By Yetunde Ayobami Ojo
A Lagos Federal High Court, yesterday, sentenced three sexagenarian men: Kasumu Shakiru Ademola, Salau Omoniyi Mikailu and Ganiyu Oluyede Isola to 20 years imprisonment, for laundering N45.6 million.
Justice Chukwuejekwu Aneke sentenced them to prison terms after finding them guilty as charged by the Economic and Financial Crimes Commission (EFCC).
The EFCC had filed a four-count amended charge of conspiracy, unlawful fund conversion and money laundering.
The convicts were first arraigned alongside a stockbroking firm, CSL Stockbrokers, sometime in 2019, on eight-count charge.
They had pleaded not guilty to all the charges, and were admitted to bail in various terms.
However, the convicts, in 2021, informed the court of their intentions to change their earlier pleas, and pleaded guilty to the charges.
Also, the prosecuting counsel informed the court of his intention to withdraw the charge against the stockbroking firm, and to amend the charges against the convicts, owing to their change of plea.
Consequently, the court granted the prosecution’s request and discharged the company of the charge, while the convicts were asked to take their pleas on the amended charge.
In the amended charge, the three convicts were alleged to have conspired to unlawfully convert 298,550 stocks of a deceased person, the late Joseph Adeniji Adeyemi Joseph, valued at N34 million.
They were also alleged to have unlawfully retained the aggregate of the sum of N9,481 million, in their new generation bank account (Guaranty Trust Bank Plc’s account No.0011453876.)
The prosecution said their offences contravened the provision of sections 18(a); 15(2)(b) and 15(2)(d) of the Money Laundering (Prohibition) Act, 2011 as amended and punishable under Section 15(3) of the same Act.
However, when the court wanted to sentence the convicts, their counsel, O. Muyideen and A. Olufemi, in their allocution, pleaded with the court to temper justice with mercy. They urged the court to consider that they have been in detention since 2018, when they were arrested.
They told the court to consider the timely guilty plea of the convicts, whom they said are above 60 years, adding that the convicts have turned new leaves and promised never to engage in a crime.
Justice Aneke, while delivering judgment, said he has considered the allocutus, sentenced the convicts to five years imprisonment in each of the four counts.
The judge ordered that the jail-term to commence from the date they have been in custody and to run concurrently.
The judge further ordered the convicts to make restitution of the proceeds of the crime to the family of the deceased.
Source: The Guardian