N17.5m Theft: Stock Broker Bags 30-year Imprisonment.........

Date: 12-07-2013 2:26 pm (8 years ago) | Author: Tony Ladipo
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- at 12-07-2013 02:26 PM (8 years ago)
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N17.5m Theft: Stock Broker Bags 30-year Imprisonment


Nigerian Tribune

Lagos
July 12, 2013


Justice Adeniyi Onigbanjo of a Lagos High Court sitting in Ikeja, on Thursday, sentenced a 37-year-old stock broker, Ayoola Coker, to 30 years imprisonment for stealing N17.5 million belonging to his clients.

Coker was sentenced after he pleaded guilty to the charges during his re-arraignment on a 15-count charge on Thursday.

Justice Onigbanjo convicted Coker on all the 15-count charges of stealing, issuance of dud cheque, forgery and alteration preferred against him by the Economic and Financial Crimes Commission (EFCC).

Coker was sentenced to two years imprisonment on each of the counts, which the court ordered should be run concurrently, starting from December 1, 2011.

The judge, while pronouncing the sentence, noted that Coker made efforts to make restitutions to the victims, Mr Saheed Gbadamosi and his son, Taiwo, adding that Coker had transferred the title deed of his landed property at Idimu, Lagos worth N8 million and a car valued N1 million to the victims.

“He was arraigned earlier on June 6, 2011 and pleaded not guilty. The voluntary changing of his plea to a guilty plea has demonstrated sufficient remorse as to warrant the leniency of the charge,” the judge held.

The EFCC counsel, Mr Taqiyudeen Aribi, had alleged that Coker, sometime in 2010, fraudulently sold numerous shares worth N17.5 million which were kept in his custody by his clients.

He alleged further that Coker forged a Central Securities Clearing System (CSCS) statements which he used in facilitating the fraud, adding that the convict issued two cheques of N1 million each to the victims which were rejected by the bank due to lack of funds in his account.

Coker’s counsel, Mr Soji Toki, pleaded with the court to be lenient in sentencing his client because he was a changed man, adding that he had been in prison custody since June 6, 2011 after his previous arraignment because he failed to perfect the bail terms given to him by the court.




Posted: at 12-07-2013 02:26 PM (8 years ago) | Gistmaniac
- ezchusa at 12-07-2013 02:31 PM (8 years ago)
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hiaaaa

Posted: at 12-07-2013 02:31 PM (8 years ago) | Gistmaniac
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- merion at 12-07-2013 03:36 PM (8 years ago)
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wheres da money
Posted: at 12-07-2013 03:36 PM (8 years ago) | Gistmaniac
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- Austinjack at 12-07-2013 03:50 PM (8 years ago)
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No be small tin ooooo
Posted: at 12-07-2013 03:50 PM (8 years ago) | Upcoming
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- angesco at 12-07-2013 03:56 PM (8 years ago)
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Ouch! That's a lot of money. I am aware politicians steal more but have not yet been caught.  Even though 30 years is a bit much..

But as they say -  if you can't do the time don't do the crime!
Posted: at 12-07-2013 03:56 PM (8 years ago) | Gistmaniac
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- winace at 12-07-2013 03:57 PM (8 years ago)
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Ole
Posted: at 12-07-2013 03:57 PM (8 years ago) | Addicted Hero
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- ebiteck at 12-07-2013 04:08 PM (8 years ago)
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sorry, trap don catch you
Posted: at 12-07-2013 04:08 PM (8 years ago) | Gistmaniac
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- christianity at 12-07-2013 04:09 PM (8 years ago)
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NDI ORI,OLE,BARAWO
Posted: at 12-07-2013 04:09 PM (8 years ago) | Gistmaniac
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- dickman2 at 12-07-2013 04:10 PM (8 years ago)
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ok..one is out..who next..
Posted: at 12-07-2013 04:10 PM (8 years ago) | Addicted Hero
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- akinmanchy at 12-07-2013 04:13 PM (8 years ago)
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17.5million only u,u no dey fear? Thief,ole carry am go....30years imprisonment is too severe though.

Posted: at 12-07-2013 04:13 PM (8 years ago) | Hero
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- whisperNaija at 12-07-2013 04:18 PM (8 years ago)
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Ns wa for this man o, , , , , the man has lost his integrity. . .

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Posted: at 12-07-2013 04:18 PM (8 years ago) | Upcoming
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- dareper at 12-07-2013 04:36 PM (8 years ago)
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Good for him in jail
Posted: at 12-07-2013 04:36 PM (8 years ago) | Hero
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- papadip at 12-07-2013 05:10 PM (8 years ago)
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Quote from: papadip on 12-07-2013 02:26 PM
Coker was sentenced to two years imprisonment on each of the counts, which the court ordered should be run concurrently, starting from December 1, 2011.......
He is sentenced to a “Concurrent Term” meaning he’ll only serve 2 years and will be out in December 2013.

That stinks……at least...10 years straight......Justice was not served.

Posted: at 12-07-2013 05:10 PM (8 years ago) | Gistmaniac
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- subah at 12-07-2013 05:27 PM (8 years ago)
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30 years for stealing 17.5m. how many years imprisonment was given to BODE GEORGE for stealing more than that, he was given just 2 years. my lord 30 years is just too much, period
Posted: at 12-07-2013 05:27 PM (8 years ago) | Newbie
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- interpo777 at 12-07-2013 05:49 PM (8 years ago)
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he will be balimed for dying in jail,a dog that ate the bone on its neck, where is the trust and ur  licence as a stock bróker?
Posted: at 12-07-2013 05:49 PM (8 years ago) | Gistmaniac
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- steveoneal at 12-07-2013 05:53 PM (8 years ago)
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no amount of money should be enough to buy ones integrity,, but people lose their moral these days cos of stipend,,, the moral decadence is soaring like never before, no one to trust,, besides God!!! thank God he didnt go to the extent of killing his victim,,,hmmmmm  bongo,,, i fear!!!!!!!
Posted: at 12-07-2013 05:53 PM (8 years ago) | Gistmaniac
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- paulohking at 12-07-2013 06:18 PM (8 years ago)
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omoooooo Cheesy Cheesy Cheesy Cheesy
Posted: at 12-07-2013 06:18 PM (8 years ago) | Hero
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- DMG17 at 12-07-2013 06:20 PM (8 years ago)
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WHAT HE DID WAS WRONG, YES. BUT, WHAT ABOUT ALL THOSE CRIMINAL GOVERNMENT OFFICIALS IN THE HOUSE OF ASSEMBLY, THE SENATE HOUSE, MINISTERS, GOVERNORS, COMMISSIONERS, AMBASSADORS, ADVISERS, TOP GOVERNMENT OFFICIALS, PAST AND PRESENT HEADS OF STATE. THEY ARE NOT BETTER OFF. THEIR OWN CRIMES ARE OPEN AND EVEN WORSE. SO, WHY NOT BRING THEM TO JUSTICE AND JAIL THEM FOR LIFE THEN JUSTICE WILL BE "EVEN" IN NIGERIA? IS THE JOB OF EFCC LIMITED TO ONLY ORDINARY PEOPLE? WHO IS TO ACCUSE FOR WHAT CRIME? WHAT A COUNTRY!!
Posted: at 12-07-2013 06:20 PM (8 years ago) | Gistmaniac
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- Noble12 at 12-07-2013 07:17 PM (8 years ago)
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furubo
Posted: at 12-07-2013 07:17 PM (8 years ago) | Gistmaniac
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- chicco77 at 12-07-2013 08:22 PM (8 years ago)
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 Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes
Posted: at 12-07-2013 08:22 PM (8 years ago) | Addicted Hero
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