A Lagos State High Court in Ikeja on Thursday convicted and sentenced a businesswoman, Oluremi Phillips, to 17 years imprisonment for defrauding a company, AYM Shafa Limited, of N57,690,000.
Phillips initially stood trial before Justice Sherifat Solebo of the Special Offences Court, Ikeja, following her arraignment on January 27, 2022.
However, the trial could not be concluded before Justice Solebo retired in November 2022, leading to the reassignment of the case to Justice Ijelu.
The EFCC said Phillips and her company, Omritas Energy Limited, sometime in 2016, in Lagos, fraudulently converted and stole the sum of N57,690,000, property of AYM Shafa Limited, meant for the supply of Automotive Gas Oil which she failed to deliver.
The commission said Omritas Energy Limited, on or about April 10, 2017, knowingly issued a Diamond Bank cheque for N14,298,075 to AYM Shafa Limited.
The anti-graft agency said the cheque, when presented for payment, was dishonoured due to insufficient funds in the account.
The convict was on May 22, 2023, re-arraigned alongside her company, Omritas Energy Limited, on five counts of stealing and issuing of dud cheque to the tune of N57,690,000.
According to the EFCC, the offences committed contravened Section 285(1) of the Criminal Law of Lagos State 2011.
Phillips pleaded not guilty to all charges, and the trial commenced, with the prosecution, led by Banjo James, calling three witnesses and presenting several documents.
The defence, led by Akin Olatunji, also called three witnesses.
Delivering judgment on Thursday, Justice Ijelu found Philips and her company guilty on all five counts.
The judge sentenced Philips to nine years imprisonment or an option of a N2m fine, payable within 90 days, in count one.
For counts two to five, she was sentenced to two years imprisonment each, to run concurrently.
The court fined Omritas Energy Limited, the second convict, N250,000 on count one and N100,000 on each of counts two to five.
Justice Ijelu ordered the convicts to pay restitution of N57,690,000 to AYM Shafa Limited within 90 days.
He said, “If the restitution is not made, Omritas Energy Limited will be wound up within 90 days.”