LAGOS COURT JAILS NOGASA CHAIR, FATUYI PHILLIPS 21 YEARS FOR N43. 5M FRAUD. (PHOTO). #PRESS RELEASE
Lagos Court Jails NOGASA Chair, Fatuyi Phillips 21 Years for N43.5m Fraud Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, on Monday, November 18, 2024, convicted and sentenced Fatuyi Yemi Philips, Chairman, Natural Oil and Gas Suppliers Association of Nigeria, NOGASA, to 21 years imprisonment for N43.5m fraud. The Lagos Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on April 5, 2022, arraigned Philips alongside his firm, Oceanview Oil and Gas Limited, on a two-count charge bordering on obtaining money by false pretence to the tune of N43, 502,000.00 Count one reads: "Fatuyi Yemi Philips and Oceanview Oil and Gas Nigeria Limited, on or about the 28th day of September, 2016 at Lagos, within the jurisdiction of this Honourable Court, with intent to defraud, obtained the aggregate sum of N43, 502,000.00 from Elochukwu Okoye and Elebana Unique Ventures Nigeria Limited on behalf of WAPCIL Nigeria Limited under the false rep
The king of pop's estate was accused of cheating taxpayers out of million of dollars by alledgedlly undervaluing the wealth of the late pop star,and has been hit with a penalty of more than $702 million.New legal documents filed with the US tax court in Washington.After Jackson died in June 2009,the execotors of the estate valued the singers net worth at around $7million,while the IRS are disputing the figure and claiming that Michael Jackson actually worth $1.125billion most of the dispute is centered around the value of Jackson's image,such as Branded T-shirt,merchandise and using of his likeness in Television commercials etc.The estate value Jackson's likeness at $2,105,while the IRS put it at $434.264 million.The estate put the value of the pop star interest in the trust that own's the Beatle's and Jackson #'s song at zero,while the IRS put it at $469million.More photos below. 
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