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Home » Ex-Director To Spend 60 Months In Prison For N250m Fraud
Crime

Ex-Director To Spend 60 Months In Prison For N250m Fraud

Khadijah OlowodeBy Khadijah OlowodeJuly 12, 2023No Comments29 Views
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Justice F.E. Messiri of the Federal High Court sitting in Abuja has convicted and sentenced a former Director of Echo Logistics, Abdulrahman Aliyu, to five years imprisonment for his involvement in a N250, 000, 000 (Two hundred and Fifty Million Naira) fraud. 

He was jailed on Wednesday, June 14, 2023 on a three count charge bordering on criminal breach of trust, forgery and cheating to the tune of N250 million.  

One of the counts read; “That you, Abdulrahman Aliyu, sometime between July 2018 to July 2019 within the Abuja Judicial Division of the High Court of the Federal Capital Territory while being one of the Directors of Echo Logistics Limited and having been entrusted with a certain property to wit: the sum of N250,000,000.00(Two Hundred and Fifty Million Naira) transferred by one Alhaji Chubado Tijjani Babbi being investment money for the business of telecom bill recharge card sales into Echo Logistics Limited account domiciled in Jaiz Bank with account number 0002518093 in which you are the sole signatory did commit criminal breach of trust by dishonestly misappropriating the said sum in violation of the agreement in which such trust was to be discharged and you thereby committed an offence contrary to Section 311 of the Panel Code Law and punishable under Section 312 of the same  law”

During trial which commenced on November 9, 2021, the EFCC called five witnesses, tendered nine exhibits and closed its case. Final written addresses were adopted by the prosecution and defence  on April 25, 2023, while the Judge reserved judgment for June 14, 2023.

In his judgment,  Justice Messiri  convicted and sentenced the defendant to five years imprisonment  on all three- counts: One year imprisonment with an option of fine of  N300,000.00(Three Hundred Thousand Naira) on count one, two years imprisonment with an option of fine of  N500,000.00(Five Hundred Thousand Naira)  on count two and two years imprisonment or an option of fine of  N500,000.00(Five Hundred Thousand Naira)  on count three.

However, the judge did not make an order of restitution because Echo Logistics took liability and was repaying the complainant his dividends.

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Khadijah Olowode

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