MAN BAGS EIGHT YEARS IMPRISONMENT FOR N132M MONEY LAUNDERING IN LAGOS . (PHOTO). #PRESS RELEASE

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 Man Bags  Eight Years Imprisonment for N132m Money Laundering in Lagos  The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC) has secured the conviction of Onatayo Pelumi for money laundering involving funds totalling about ₦132 million. Pelumi was convicted by Justice Osiagor of the Federal High Court, Lagos, on five counts bordering on the retention of proceeds of unlawful activities in bank accounts domiciled with Guaranty Trust Bank (GTBank) and Zenith Bank. The charges alleged that the convict retained various sums of money in the accounts between January 2023 and June 2026, knowing that the funds formed part of the proceeds of unlawful activities. The court sentenced him to three years’ imprisonment, with an option of a ₦300,000 fine, on count One. On counts two, three, four and five, he was sentenced to five years’ imprisonment on each count, with an option of a ₦300,000 fine on each count. The terms of imprisonment are to run concur...
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COURT SENDS BANKER, EIGHT INTERNET FRAUDSTERS TO PRISON IN BENIN CITY. (PHOTOS).#PRESS RELEASE

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Court Sends Banker, Eight Internet Fraudsters to Prison in Benin City

Andrew Nwadiashi a 40 year-old banker and eight internet fraudsters were on Friday, August 4, 2023, convicted and sentenced to prison by Justice M. Itsueli of the Edo State High Court sitting in Benin City.
 
The others are Osawa Marvellous, Etinosa Ogieva, Erharruyi Osaigbovo, Isaac Godstime Eghosa, Obasohan Kelvin, Evans Jessa Mike, Timothy Odion and Festus Efe Iyengunmwena

Nwadiashi was arrested following a petition by First Bank sometime in 2020. As Head, Non-Financial Transaction at Warri branch of the bank in Delta State, he allegedly disregarded banking policy and debited a customer’s account to the tune of N9, 354,000.00. During investigation the banker confessed to the offence.

The eight other defendants were arrested following intelligence which linked them to internet fraud activities

They were subsequently arraigned on separate one count charges bordering on stealing, retention of proceeds of illegal activities and unlawful possession of fraudulent documents by the Benin Zonal Command of the EFCC.

Upon arraignment, the defendants pleaded guilty to their respective charges, prompting the prosecution counsel, I. M Elodi, IK Agwai, K.Y. Bello and Ibrahim Faisal to ask the court to convict and sentence the defendants accordingly.

Justice Itsueli convicted and sentenced Nwadiashi to two years imprisonment or a fine of N200,000. The defendant had fully paid the aggregate sum N9, 654,000.00, being the principal sum and interest, in restitution to the victim of crime.

The court convicted and sentenced Marvellous, Odion, Ogieva and Iyengunmwena to three years imprisonment with an option of Three Hundred Thousand Naira as fine .

The duo of Osaigbovo and Mike were each sentenced to three years imprisonment with an option of Two Hundred Thousand Naira fine.

Eghosa and Kelvin, each bagged one month imprisonment and a fine of Two Hundred Thousand Naira.

Justice Itsueli ordered that a Toyota Lexus ES 330; Lexus E350, phone, laptops and the balance in the convicts’ bank accounts be forfeited to the Federal government of Nigeria.

One more photo below. 

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