Man jailed seven years for N43m fraud
Justice Mojisola Dada of an Ikeja Special Offences Court has sentenced one Stanley Amaogo to seven years imprisonment for N43 million fraud.
Justice Dada held that the prosecution clearly proved its case against the convict beyond reasonable doubts.
The judge, therefore, convicted and sentenced Amaogo to seven years imprisonment on count one.
The judge also convicted and ordered the second defendant to pay a fine in the sum of N500,000 within 30 days.
The defendants were also ordered to restitute the sum of N43m in favour of the complainants.
The Economic and Financial Crimes Commission, EFCC, Lagos Zonal Directorate 1, Awolowo Road, Ikoyi, Lagos had arraigned Amaogo and his company, Double Miracle Ventures on January 13, 2022 on a two-count amended charge bordering on stealing, contrary to Section 285(9)(b) Criminal Law of Lagos 2011 and obtaining money under false pretence, contrary to Section 1(a) and (3) of the Advance Fee Fraud.
He pleaded “not guilty” to the charges.
During trial, the prosecution counsel of the EFCC, B.O.A Sonoiki and U.S. Kyari, had called two witnesses and tendered several documents that were admitted in evidence by the court.
The defence also called three witnesses before the parties adopted their final written addresses and closed their cases.
One of the counts reads: “That you, Stanley Amaogo and Double Miracles Ventures, sometime in April 2018 in Lagos, within the Jurisdiction of this Honorable Court, stole by fraudulently converting to your own use the sum of N43,080,000, property of Mr. Francis Okoye, Managing Director of Fontek Crystal Resources Limited…”
