A Lagos State Special Offences Court has sentenced a businessman, Kingsley Obasi, to seven years imprisonment over a $247,390 fraud case.
The conviction was delivered on Thursday by Justice Mojisola Dada, who found Obasi guilty of stealing in connection with the fraudulent transaction.
Obasi was prosecuted alongside his company, Great King Parkson Industrial Company, by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC).
This was made known in a statement by the Economic and Financial Crimes Commission, and shared on its Facebook page on Thursday.
According to the anti-graft agency, the defendant was arraigned by the EFCC, Lagos Zonal Directorate 1, on February 22, 2023, on a one-count charge bordering on stealing, contrary to Section 287(9)(b) of the Criminal Law of Lagos State, 2011.
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During the trial, the prosecution presented evidence showing that the convict unlawfully obtained the sum of $247,390 from his victim under false pretences.
Delivering judgment, Justice Dada held that the prosecution had successfully proved its case beyond reasonable doubt and subsequently sentenced Obasi to seven years imprisonment.
The court also affirmed the culpability of Great King Parkson Industrial Company in the fraud case.
The EFCC described the conviction as part of ongoing efforts to combat financial crimes and ensure accountability in business transactions across the country.