Justice Mojisola Dada of the Particular Offences Court docket in Ikeja, Lagos, convicted and sentenced Fatuyi Yemi Philips, Chairman of the Pure Oil and Fuel Suppliers Affiliation of Nigeria (NOGASA), to 21 years in jail for his involvement in a fraudulent scheme that resulted within the misappropriation of N43.5 million.
Based on a press release by the Financial and Monetary Crimes Fee (EFCC), The fraud was carried out by way of his firm, Oceanview Oil and Fuel Restricted.
Phillips was arraigned by the Lagos Zonal Directorate of the Financial and Monetary Crimes Fee (EFCC) on April 5, 2022. He confronted a two-count cost alongside his firm, Oceanview Oil and Fuel Restricted.
Prices in opposition to Phillips and Oceanview Oil and Fuel Restricted
The primary rely reads:
“Fatuyi Yemi Philips and Oceanview Oil and Fuel Nigeria Restricted, on or concerning the twenty eighth day of September 2016 at Lagos, inside the jurisdiction of this Honourable Court docket, with intent to defraud, obtained the mixture sum of N43,502,000 from Elochukwu Okoye and Elebana Distinctive Ventures Nigeria Restricted on behalf of WAPCIL Nigeria Restricted below the false illustration that you’d promote to WAPCIL Nigeria Restricted $98,870, a illustration you knew to be false,” they said.
The second rely accuses Phillips and his firm of stealing the sum of N43,502,000.00, which was the property of WAPCIL Nigeria Restricted.
All through the trial, Phillips pleaded “not responsible,” and his protection staff known as three witnesses to dispute the fees.
Nevertheless, the prosecution, led by M.S. Owede, offered a compelling case, submitting documentary proof and calling 5 witnesses who corroborated the allegations in opposition to Phillips and Oceanview Oil and Fuel Restricted.
Justice Dada concluded that the prosecution had confirmed its case past cheap doubt. Consequently, Phillips was sentenced to 14 years imprisonment for the primary rely and 7 years for the second, with the sentences to run concurrently.
Phillips had collected the sum of N43,502,000 from the complainants with the promise of promoting its greenback equal of $98,870 to them however didn’t fulfil this dedication, leaving the petitioners defrauded of each the Naira nor greenback equal.
