Fraud: Managing Director Jailed 20 Months

Justice Raliat Adebiyi of an Ikeja High Court yesterday convicted and sentenced the Managing Director of an oil company, Julian Ndubueze Ezeji, and his company, Initial Energy Service Limited, Julian Ndubueze Ezeji to 20 months imprisonment over their alleged involvement in fraud.

The court specifically convicted the defendant alongside his company of the 14 counts charge slammed against him by the Economic and Financial Crimes Commission (EFCC).

It would be recalled that the EFCC had docked the defendants for dishonestly converting to their personal use, several sums of monies, property of one Onyeka Okoye and Chikatina Petroleum Nigeria Limited, being payment for 574,000 litres of Automative Gas Oil (AGO).

The offence, according to the anti-graft agency, is contrary to Section 285(1) of the Criminal Law of Lagos State 2011.

But the defendants had pleaded not guilty to the 14 counts charge when they were arraigned on March 4, 2016.

While the trial lasted, the prosecution called four witnesses, while the first defendant testified for the defence.

In her judgment, Justice Adebiyi held that the prosecution proved the case against him and the company beyond a reasonable doubt.

The judge further declared that “defendants converted to their use, the various cost of the AGO supplied directly and indirectly to them by the complainant in the 14 count charge with the intention to permanently deprive the nominal complainant of the sum of #81,250,000.00.”

Justice Adeniyi equally posited that the defendants falsely misled the complainant by promising to pay back from sources that did not exist from the evidence produced by the prosecution.

The judge insisted that the level of culpability of the 1st defendant is so high as he played a major role in the offence, adding that the amount of money involved in the offence was high.

According to the judge, “The harm caused by the defendants was substantial, as the offence led to the foreclosure of the loan of the nominal complaint and ultimately to the death of his wife.

“The court in applying the totality principle taking into account the severity of the offence, the aggravating and mitigating factors, shall pursuant to its powers as stipulated in Section 316 of the Administration of Criminal Justice Law (Repeal and Re-enactment Law 2015) impose a fine on both defendants for all the 14 counts to run concurrently pursuant to the provision of Section 316 (2) of the ACJL, 2015.”

Justice Adebiyi imposed a fine of N5 million against the 1st defendant for all 14 counts, and ordered that default of payment shall attract a term of imprisonment not to exceed 10 months.

“The 2nd defendant, company, is hereby also ordered to pay a fine in the sum of N2 million within three months hereof, failing which the Chairman of the Corporate Affairs Commission shall be served a copy of this order to strike out the name of the company from the Nigerian Company's Register.

“The defendants shall make restitution to the nominal complainants; Chikatina Petroleum Limited in the sum of N10m within three months, failing which it will attract a term of imprisonment not exceeding seven months”.

Justice Adebiyi also ordered that the defendant shall be remanded in custody pending the payments of the fines.

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