Man Bags Seven Years Imprisonment for N2m Fraud


Justice Kudirat Jose of the Lagos State High Court sitting in Ikeja, on Wednesday, April 5, 2017, convicted one Odibo F. Kronaghea and sentenced him to seven years imprisonment in a case of obtaining money by false pretence and issuance of dud cheque brought against him by the Economic and Financial Crimes Commission, EFCC.
The convict was arraigned alongside a company named Confido Consult Services Limited on October 15, 2015 on three counts of obtaining money by false pretence and issuance of dud cheque to the tune of N2 million.
One of the counts reads: ‘That you, Odibo Efe Ajibade Krongaghea and Confido Consult Services Limited, on or about the 26th of August 2008, at Lagos within the Ikeja Judicial Division with intent to defraud obtained the sum of N2, 000,000.00 (Two Million Naira) from Judgewell Johnson Effiong by falsely representing that you are fund manager and capital market operator, which representation you knew to be false.’’
The accused pleaded not guilty to the charges preferred against them, thereby setting the stage for their trial.
The prosecution counsel, Abba Mohammed, presented two witnesses and tendered 18 documents as exhibits during the trial.
Delivering his judgment today, Justice Jose sentenced the first accused to seven years imprisonment on count one without an option of fine.
The second accused was ordered to pay a sum of N50, 000 fine.
Justice Jose also ordered the accused to pay the sum of N966, 000.00 in restitution to the victim.

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Hamilton Nwosa

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