Court sentences businessman to 30 years for $62,500, €36,020 fraud

Justice Ismail Ijelu of a Lagos State High Court sitting in Ikeja has convicted Olumuyiwa Idowu and his firm, Tennyvans Nigeria Limited, to a cumulative 30 years’ imprisonment for stealing and failure to declare assets in a case involving $62,500 and €36,020.

In his judgment, the judge held that the prosecution proved beyond reasonable doubt that Idowu dishonestly converted funds meant for the purchase of heavy-duty vehicle parts and equipment belonging to a Dutch businessman, Rene Theodorous Johannes Brouwers of Brouwers USA Trucks and Parts.

Idowu was arraigned by the Economic and Financial Crimes Commission (EFCC) on six counts on November 27, 2024.

He pleaded not guilty, prompting a full trial.

During the trial, prosecution counsel Ebuka Okongwu called three witnesses and tendered 11 exhibits, which were admitted by the court, while the defence called one witness.

The prosecution alleged that Idowu and his company, in 2012, diverted $62,500 meant for Caterpillar parts and €36,020 paid for a DAF truck, box trailer, and two tippers entrusted to them by Brouwers.

The court held that the offences breached Section 285 of the Lagos State Criminal Law, 2011, and Section 27(3) of the EFCC Act, 2004, which criminalize stealing and failure to declare assets.

Justice Ijelu convicted the defendant on all counts and imposed five years’ sentence each on counts one to four, to run concurrently.

He further sentenced Idowu to five years each on counts five and six, with an option of a N1 million fine on each of the last two counts, payable within six months.

The court also ordered Idowu to refund $62,500 and €36,020 to the complainant within six months.

The convict was remanded at the Ikoyi Correctional Centre until the payment of his fine.

About The Author

Dele Fashomi

Dele Fashomi, seasoned journalist and communication teacher, is a holder of Master of Arts degree in Communication and Language Arts from the University of Ibadan in 1992/93.

Earlier, he had bagged a Bachelor degree from the same university in 1984, after which he proceeded to the Nigerian Institute of Journalism, Lagos, in 1990, for a postgraduate diploma in Journalism.

He had done many courses in communication, including the EU-BBC Editing Course in 2002.

Mr. Fashomi combines effectively the practice, research and teaching of communication. And to date, he has published two academic works in communication: Issues in Communication Technology and Policy (2010) and Economic and Social Issues in Advertising and PR (2013).

He had his first break in the Nigerian media in Concord Newspapers in 1990 and today, he has over two and half decades experience earned in several newspapers.

He has been part of many start-ups, such as The Republic (1987), The Comet (1999), The Anchor 2001 – 2002; Sun Newspapers (2003); Westerner newsmagazine (2005 – 2010) as Editor; National Life (2011) as Sunday Editor, and Newswatch Newspapers (2012- 2016) as Daily Editor.

Dele Fashomi is now the Publisher/Editor-in-Chief of Newstide247.com newspaper online, which he started in July 2015. He is also into biography writing, with many books in his trail, some of which he wrote alone and one he co- authored with his mentor, Mr Dare Babarinsa, entitled:  Olabiyi Durojaiye – DARE TO BE DiFFERENT. He also guided and collaborated with Pa Olatunji Odusanya in writing his autobiography – AGAINST ALL ODDS. There are many other books in the works under his pen.

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