A businessman, Taiyelolu Ibrahim Akeem, has been convicted and sentenced to three years imprisonment, by a Federal High Court, Lagos, over N21 million fraud. 

Taiyelolu was given the jail terms by Justice Nicholas Oweibo, after the prosecution review the facts of the two counts charge of obtaining by false pretence and fraud made against him.

The convict had on September 3, pleaded guilty to the two counts charge, when he was first arraigned before the court.

In reviewing the facts of the charge, the prosecutor, Daniel Apochi, of the Police Special Fraud Unit (PSFU) Ikoyi, Lagos, said Taiyelolu fraudulently obtained the sum of N21 million, through his company, Tkashy Multi Service, from one Solomon George, under the pretence of supplying him 20 containers of Charcoal.

Daniel further told the court that the convict and others now at large, committed the offence in Lagos, between the month of February and October 2019.
He told the court that the offences committed by the convict contravened sections 1(1) (a) of the Advance Fee Fraud and Other Fraud Related Offences Act No. 14 of 2006 but Punishable Under Section 1(3) of the same Act. And section  15(2) (b) of the Money Laundering (prohibition) Act, 2011, as amended in 2012. 
Upon review of the facts of the case, Daniel urged the court to convict the businessman and sentence him accordingly.
Following the submission of the prosecutor, the defendant who was not represented by any counsel, pleaded with the court to tamper justice with mercy in sentencing him.
After listening to the submission of the prosecutor and defendant’s plea for mercy, Justice Oweibo sentenced the businessman to three years imprisonment without option of fine.

Count one: That you, Tayelolu Ibrahim Akeem ‘M’, Tkashy Multi Service and Others still at large between the month of February to October, 2019 in Lagos, within the Jurisdiction of the Federal High Court, did, by false pretence and with intent to defraud, obtain the sum of N21, 000, 000.00 (Twenty One Million Naira Only) from Solomon George with the pretext that you were a supplier of charcoal and that you had a stock of charcoal in your possession, that if he paid the above sum to you as the purchase price, you will supply and deliver to him 20 containers of charcoal, representations you knew to be false or did not believe to be true or which you made recklessly and thereby committed an offence Contrary to Section 1(1) (a) of the Advance Fee Fraud and Other Fraud Related Offences Act No. 14 of 2006 but Punishable Under Section 1(3) of the same Act. 

Convert to your own use and benefit the sum of N21,000,000.00 (Twenty One Million Naira Only) property of Solomon George, paid by him to you, on your instruction, through your company’s accounts and other accounts, with an understanding that if he paid the above sum, you will supply him 20 containers of charcoal, which money, you knew or reasonably ought to have known, was the proceed of an unlawful activity. carried out by you, to wit: obtaining money by false pretences and you thereby committed an offence punishable under 

Section 15(2) (b) of the Money Laundering (prohibition) Act, 2011, as amended in 2012.