Businessman Who Was Sentenced To 14 Years Imprisonment For N6.6M Fraud Identified

Published 4 weeks ago by: Adegbenga Ayinla
at 05:22 PM, 23/08/2019 (4 weeks ago)

(1513 | Gistmaniac) Online (m)


The Economic and Financial Crimes Commission, EFCC, Enugu Zonal Office has secured the conviction of one Walford Ezemalu, chairman and managing director of Anomak Hope Ventures Limited, before Justice O.A. Adegbehingbe of Ondo State High Court.
The convict faced a two-count charge, bordering on stealing to the tune of N6,630,000.00 (Six Million, Six Hundred and Thirty Thousand Naira), for which he received 14-year jail term of seven years each, to run concurrently, without option of fine. His company, Anomak Hope Ventures Limited (second defendant) was discharged and acquitted.
Ezemalu's road to jail began when one Nnolum, Managing Director of B.O. Nnolum and Sons Limited, an independent petroleum marketer, petitioned the EFCC, alleging that his company sometime in 2017 had an agreement with the convict to sell 33,000 litres of Automotive Gasoline Oil (AGO, diesel), at the rate of N200 per litre. That the agreement with the convict was to pay the money into his (plaintiff's) company's account but the convict on selling the product, asked the buyer to pay the money into his Anomak Hope Ventures Limited (second defendant) account.
The petitioner further alleged that after the sum of N6,630,000.00 was paid into the convict’s company account, the convict being the sole signatory to the account diverted the said money to his personal use.
One of the charges reads:
Quote
"That you Walford Ezemalu, being a director of Anomak Hope Ventures Limited, sometime in March, 2017 in Akure, Ondo State, within the jurisdiction of the Ondo State High Court did commit felony to wit: stealing by fraudulently converting to your personal use the sum of N5,000,000.00 (Five Million Naira) only, property of B.O Nnolum & Sons Limited which was paid to your company account, 0030440354, domiciled in Diamond Bank and thereby committed an offence contrary to Section 390 of the Criminal Code Law Cap 37 Vol.1 Laws of Ondo State and punishable under Section 390(9) of the same Law."
Ezemalu was arraigned by the EFCC, alongside his company, Anomak Hope Ventures Limited on March 18, 2019. He pleaded not guilty to the charges, prompting full blown trial. He was convicted and sentenced on August 8, 2019

Problem with this article? Please contact us


Slimchery at 08:32 PM, 23/08/2019 (4 weeks ago)
(3385 | Gistmaniac) (m)

Only in Nigeria jail for stealing 6m but get bail with same 6m when they steal 6b
Reply
Baye77 at 12:21 AM, 24/08/2019 (4 weeks ago)
(4253 | Gistmaniac) (m)

Greed is our problem
Reply
WhenYouThinkAboutIt at 06:15 AM, 24/08/2019 (4 weeks ago)
(296 | Upcoming) Online (m)

Quote from: Baye77 on 12:21 AM, 24/08/2019
Greed is our problem

We as a people have problems too
Reply

LATEST COMMENTS

  1. smart61 on: Photos: Killers Of Imo Politician, Christopher Anoruo Arrested
    DESPITE THE NUMEROUS CORRUPTION ALLEGATION LEVEL AGAINST THE NIGERIAN POLICE, I AM CONVINCED THAT TH... 16 mins ago
  2. Brave5500 on: EFCC Creates Unit, NFIU To Target Rich Nigerians With Unexplainable Source Of Income
    Where r all these money that has been recovered??  >:( :( ::) ::)... 20 mins ago
  3. Henrybobo on: Lady Beats White Man Who Took Her On A Date But Abandoned Her To Pay The Bills (Video)
    [quote author=onyioben link=topic=401853.msg5573246#msg5573246 date=1569198542]Useless fool,,who kno... 28 mins ago
  4. smart61 on: Tonto Dikeh Writes To The Witches Who Tried To ”Press Her Chest” While She Slept Last Night
    YOUR CHEST? THANK GOD THAT THEY HAVE NOT STARTED PRESSING YOUR BRAIN, THEN, YOU WILL REALISE IT IS N... 29 mins ago
  5. kenshin2 on: EFCC Creates Unit, NFIU To Target Rich Nigerians With Unexplainable Source Of Income
    This guy is playing with the cobra's tail... 1 hr ago