Justice Rahman Oshodi of the Special Offences Court sitting in Ikeja, Lagos, has sentenced Obiesie Elyon Chukwugene and Afolabi Adebayo Olumuyiwa to one year imprisonment each for stealing a total of N36.57 million under the guise of poultry investment.
The conviction followed their prosecution by the Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 2, over fraudulent representations made to a petitioner, Judith Okoli.
The defendants were initially arraigned on November 21, 2024, alongside a company, D Velvetbox Agro Farm Limited, on a 15-count charge bordering on stealing.
According to the prosecution, Chukwugene, the Managing Director of D Velvetbox Agro Farm Limited, dishonestly converted N5 million belonging to Okoli after falsely claiming the funds were meant for poultry farming investments.
Instead, the money was diverted to offset obligations to other investors. Olumuyiwa, trading as Triple J Farm, was accused of committing a similar offence involving another N5 million under the same false pretence.
Both defendants pleaded not guilty at the commencement of trial, prompting the prosecution, led by A. M. Dambuwa, to call two witnesses and tender documentary evidence, which the court admitted as exhibits. However, during proceedings, the defendants were re-arraigned on an amended two-count charge and changed their plea to guilty.
In his judgment, Justice Oshodi held that the prosecution had proved its case beyond reasonable doubt. “I find the defendants guilty on the amended information and I convict them accordingly. This is the judgment of the court,” he ruled.
The court sentenced both Chukwugene and Olumuyiwa to one year imprisonment each without an option of fine, with the sentence taking effect from November 21, 2024, when they were first remanded at the correctional centre.
Justice Oshodi also convicted D Velvetbox Agro Farm Limited and imposed a fine of N1 million on the company, to be paid through Chukwugene in his capacity as Managing Director.
In addition, the court ordered the two convicts to jointly pay restitution of N5 million to the petitioner within five months.
Further orders were made for the forfeiture of a Toyota Camry recovered from Chukwugugene to Judith Okoli. The judge directed that the vehicle be released to her or to any person duly authorised by her.
The EFCC said the convicts fraudulently obtained the N36.57 million by misrepresenting the funds as capital for poultry farming investments, while diverting the money to settle outstanding debts owed to other investors.