The Special Offences Court sitting in Ikeja, Lagos, has sentencedLagos Court Sentences Man to One Year in Prison for N37m Forex Fraud Henry Daniel to one year in prison for a N37 million foreign exchange fraud.
Justice Olubunmi Abike-Fadipe delivered the judgment after finding Daniel guilty on a two-count charge of obtaining money by false pretence and stealing. The charges were filed by the Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 1, Ikoyi.According to an EFCC statement by its Head of Media and Publicity, Dele Oyewale, the defendant pleaded not guilty when arraigned, prompting a full trial.
During proceedings, prosecution counsel Babatunde Sonoiki called three witnesses and tendered documentary evidence, which the court admitted.In her ruling, Justice Abike-Fadipe sentenced Daniel to one year imprisonment, with an option of a N2 million fine. The court also ordered him to complete 50 hours of community service and pay restitution of N15.6 million to the petitioner.
The EFCC said Daniel was arrested for allegedly obtaining N37 million from Mr. Eze Onyekachukwu under the pretext of investing the funds in foreign exchange trading. The commission stated that the funds were neither invested nor returned.
