Entrepreneur imprisoned two years for stealing N9m

On Thursday, Lagos State Special Offences Court in Ikeja, sentenced a businessman, Olarenwaju Gbadamosi, to two years’ imprisonment for stealing N9m, TopNaija reports.

Gbadamosi was sentenced by Justice Mojisola Dada after pleading guilty to an amended charge of a money by false pretences preferred against him by the Economic and Financial Crimes Commission.

The convict, on November 19, 2010, stole the sum of N9m from one John Stevens. According to the EFCC, the offence is contrary to Section 390 of the Criminal Code, Cap C17, Vol. 2, Laws of Lagos State of Nigeria, 2003

The EFCC counsel, Mohammed Hussain, informed the court of the plea bargain agreement and urged it to adopt the same in sentencing Gbadamosi accordingly. Gbadamosi’s counsel, Ademola Aderinle, while pleaeding with the court to temper justice with mercy, noted that the convict was a first time offender, who regretted his action.

Justice Dada sentenced Gbadamosi to two years’ imprisonment with an option of N1m fine. She said, “Upon the completion of the term, the convict should enter into a bond with the Economic and Financial Crimes Commission to be of good behaviour and never to be involved in economic and financial crimes, illegitimate or criminal activities within and outside the shores of the Federal Republic of Nigeria.

“The convict will forfeit his property situated at No. 9 Lawal Mohammed Street, Alimosho Local Government Area of the state as payment in the sum of N8m as the final restitution to the nominal complainant.”