Lagos Court Sentences Businessman to Seven Years for Fraud

On February 2018, businessman Jame Onyejekw, associated with Kaino Explor Production Company Limited, was convicted of fraud amounting to N28 million by Justice Mojisola Dada at the Lagos State Special Offences Court in Ikeja. The court found that Onyejekw had obtained N10 million from Mr. Augustina Ofoegbu of Guis Investment Company, promising a 250 percent return within 60 days.

He was also accused of dishonestly converting another N10 million belonging to a complainant and issuing three dud cheques valued at N10 million, N10 million, and N5 million, which were returned unpaid due to insufficient funds. Justice Dada sentenced Onyejekw to three years for theft and two years for each of the three counts of issuing dud cheques, with all sentences running concurrently, resulting in a total of seven years in prison.

Additionally, the court ordered restitution of N8 million to the complainant and the forfeiture of Kaino Explor Production Company Limited's assets to the federal government.