Justice Ismail Ijelu of the Lagos State High Court has sentenced Olumuyiwa Teniola Idowu and his company, Tennyvans Nigeria Limited, to a total of 30 years imprisonment for fraud involving $62,500 and €36,020.
The conviction followed a six-count charge bordering on stealing and failure to declare assets, in violation of the Criminal Law of Lagos State, 2011, and the EFCC Act, 2004.
According to a statement shared on the Economic and Financial Crimes Commission on Monday, Idowu and his company dishonestly converted $62,500, meant for the purchase of caterpillar parts belonging to Rene Theodorous Johannes Brouwers of Brouwers USA Trucks and Parts.
In a separate transaction, they were also found to have diverted €36,020 meant for the purchase and shipment of a DAF truck, box trailer, and two tippers belonging to the same victim.
The offences were committed in 2012 within the jurisdiction of the Lagos State High Court.
Idowu was arraigned on November 27, 2024, and pleaded not guilty, leading to a full trial.
During proceedings, the prosecution, led by E. S. Okongwu, presented three witnesses and eleven exhibits, all admitted by the court. The defence, led by Kehinde Olawumi, called one witness.
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In his judgment, Justice Ijelu ruled that the prosecution had proven its case beyond reasonable doubt and found the defendant guilty on all counts.
The court sentenced Idowu to five years imprisonment on counts one to four, to run concurrently.
He was also sentenced to five years on counts five and six, with an option of a ₦1 million fine on each count, payable within six months or to serve additional jail time.
The court further ordered the convict to refund the sum of $62,500 and €36,020 to the complainant within six months.
Following the judgment, Idowu was remanded at the Ikoyi Correctional Centre.