A Lagos-based Federal High Court on Monday sentenced a businessman, Kenneth Amadi, CEO of IDID Nigeria Limited, to 18 months in prison for 2.9 billion naira fraud.
Judge Ambrose Lewis-Allagoa handed down the sentence after convicting him of counts four and five of the criminal charges brought against him by the Federal Government of Nigeria, through the Federation Attorney General’s Office.
The judge held that the judgment had no option of a fine and also ordered IDID Nigeria Limited to be wound up with immediate effect.
Amadi and his company, IDID Nigeria Limited, were prosecuted in court by the government after he defrauded Eunisell of said sum while he was the company’s COO.
One of the charges against the defendants includes receiving and obtaining under false pretense, with the intent to defraud, the sum of N2, 900,000,000 belonging to Eunisell Limited of AZ Petroleum Ltd and Ammasco International Ltd; omit and make his complete and true entry in the books and accounts; data suppression in respect of financial transfer to Eunisell Limited; and convert the same amount without authorization to create enough deposits to promote the credibility of his own company (IDID Nigeria Limited).
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