A FEDERAL High Court sitting in Ikoyi, Lagos, yesterday, convicted and sentenced to 18 months imprisonment the Chief Executive Officer (CEO) of ABD Energy Solution Ltd, Kenneth Ndubuisi Amadi, as a result of his involvement in a fraud to the tune of N2.9 billion.
The presiding judge, Justice Ambrose Lewis-Allagoa convicted Amadi to 18 months imprisonment, which is to run concurrently, after finding him guilty of a criminal charge made against him by the Federal Government through the office of the Attorney General of the Federation (AGF).
Amadi specifically, was convicted and sentenced for the act of nominating his company’s account to customers, A-Z Petroleum Ltd and Ammasco Ltd, for them to act upon as genuine to the prejudice of Eunisell Ltd, his employers, where he held sway as the CEO, and failure to make a full and true entry in the books and accounts of the company.
Justice Lewis-Allagoa also ruled that the sentence is without an option of a fine, and equally ordered that IDID Nigeria Limited, the company used in committing the crime, be liquidated with immediate effect.
Amadi and his company, IDID Nigeria Limited, were tried before the court for conspiracy and fraud to the tune of N2.9 billion. During the trial, it was proven that while being in the employment of Eunisell, Amadi incorporated IDID Nigeria Ltd, using it to divert funds belonging to his employer.
He was charged before the court on the offences bothering on obtaining by false pretence, forgery, unlawful fund conversion, and fraud.
The offences contravened Section 1 of the Advance Fee Fraud and Other Fraud Related Offences Act, Cap A6, Law of the Federation of Nigeria, 2004, and punishable under Section 1(3) of the same Act, Section 1(2)(c) of the Miscellaneous Offence Act, Cap M17 Law of the Federation of Nigeria, 2004 and punishable under the same Section of the Act; Section 27(b) of Cybercrimes (Prohibition, Prevention, etc.) Act, 2015 and punishable under Section 14 (1) of the same Act, and Sections 434 and 435 of the Criminal Code Act, Cap C38 Laws of the Federation of Nigeria, 2004 and punishable under the same Section of the Act.
