Police Dock Three Directors for Alleged N138m Fraud

Wale Igbintade

Three former Directors of a firm, Integrated Intelligence Imaging West Africa Limited, Oluwole Tella, Leke Abajingin, and Babatunji Olaosun, have been arraigned before a Federal High Court Judge in Lagos over alleged conspiracy, unlawful conversion and fraud of N138 million.

The three men were arraigned alongside a company, Flinkteshnik Concept Limited, before Justice Peter Lifu by the Police Special Fraud Unit (PSFU), Ikoyi, Lagos.

They were arraigned on a charge marked: FHC/L/341c/2021, after the court dismissed their application challenging the competency of the charges.

The prosecutor, Mr. Henry Obiaze, told the court that the three men and the company committed the offences sometime in 2019 at Opebi area of Lagos State.

According to the prosecutor, the defendants converted the sum of N107, 028 million derived directly from the criminal activities of stealing and theft within Integrated Intelligence Imaging West Africa Limited with the aim of either concealing or disguising the illicit origin of the resources.

He stated that Oluwole Tella and Babatunji Olaosun, and their company, Flinkteshnik Concept Limited, sometime in 2018, fraudulently converted the sum of N138 million derived directly from theft within Integrated Intelligence Imaging West Africa Limited, with the aim of concealing the source of the money.

The prosecutor said the offences contravened Sections 15(1)(b); 18(c) and 17(b) of the Money Laundering (Prohibition) Act, 2011.

The three defendants pleaded not guilty to the charges.

Following their plea, the prosecutor urged the court for a trial date and also prayed the court to remand them in the custody of the Nigeria Correctional Services (NCoS) till the determination of the charges against them.

Responding to the prosecutor’s request, Mr. M. O. A Popoola and Mr. Emeka Opara (SAN), lawyers to the defendants, told the court that they have filed their clients’ bail applications and same have been served on the prosecutor.

Though, the prosecutor admitted to being served with the processes, he, however, requested for time to respond to them.

In his ruling, Justice Lifu, after citing legal authorities, which allow Judges to use their discretion on bailable offences, admitted the three defendants to bail in the sum of N10 million with two sureties in like sum each, who must depose to affidavit of means.

The Justice also ordered that one of the sureties must be a blood relation to the defendants, while the other surety must be a civil servant of Grade Level 12 and above either in Lagos State or in the federal government establishment.

The Judge, while adjourning till June 10, 2022, for the defendants’ trial, ordered that both Leke Abajingin and Babatunde Olaosun be remanded in NCoS’ custody till the perfection of the bail terms.

He, however, released the first defendant, Oluwole Tella, on health ground but with an order that he must meet the bail conditions by next week Friday else he will be remanded in NCoS’ custody.