By Onyewuchi Ojinnaka
An Indian businessman, Ashok Israni, and two top officials of Bank PHB (now Keystone Bank), Anayo Nwosu and Olajide Oshodi, have been sentenced to five years imprisonment by Justice Kudirat Jose of Lagos High Court, Igbosere, over a N855 million fraud.
Justice Jose also convicted NULEC Industries Limited belonging to Israni and Keystone Bank Limited.
The Economic and Financial Crimes Commission (EFCC) had on June 24, 2019 arraigned the convicts alongside one Sunny Obazee on an amended 15-count charge bordering on conspiracy and obtaining the sum of N855 million by false pretence.
However, during arraignment, the defendants pleaded not guilty to the charge preferred against them by the EFCC, thereby leading to their full trial.
In the course of the trial, the prosecution counsel, Rotimi Jacobs, (SAN) called twelve witnesses and tendered several documents which were admitted in evidence by the court while the defence called four witnesses.
In her judgment, Justice Jose discharged and acquitted the fourth defendant, Obazee.
The Judge, however, convicted and sentenced the first, second and third defendants to five years imprisonment each on counts 1, 3, 4, 7, 9, 10 and 13 of stealing.
The companies were also ordered to pay a fine of N20 million to the Federal Government on counts 1, 10 and 13.
The Jugde also ordered the convicts to refund the sum of N395 million as restitution to the victim of the fraud.