Court sentences three men to jail for converting a dead person’s stocks

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Esther A

Active Member
Jul 28, 2022
Court sentences three men to jail for converting a dead person’s stocks

Three men have been thrown in Jail for converting the stocks of a dead person.

The Federal High Court in Lagos sentenced these men to jail. These men have been identified as Kasumu Ademola, Salau Mikailu, and Ganiyu Ishola. This happened on Wednesday, May 242l, 2023.

They were sentenced to 20 years imprisonment and their offense was defrauding a stock firm of N45.6m.

They were found justly and their judgment was pronounced by Justice Chukwuejekwu Aneke.

These men had been arrested and arranged by The Economic and Financial Crimes Commission (EFCC).

They were charged with unlawful fund conversion, money laundering and conspiracy.

They were first remanded by the court in 2019, and had pleaded not guilty to the crimes.

They were granted bail but in 2021, they changed their plea to guilty.

These men conspired and diverted 298,550 stocks of a man who is dead. The deceased was identified as Joseph Adeyemi.

The stocks these men had converted is valued at N34 million.

They retained a huge sum of money in their bank account and this was a sum of N9.481 million.

When the case hearing came up on Wed, the lawyers pleaded with the court to lessen the sentence since they had been in detention since the time they were first arrested which is 2018.

Justice Aneke then sentenced the convicts to five years of imprisonment each.