By Ranti Thomas
A Lagos Special Offences Court sitting in Ikeja has sentenced Obiesie Elyon Chukwugene and Afolabi Adebayo Olumuyiwa to one year imprisonment each for stealing N36.57 million under the guise of poultry farming investments. The court also ordered restitution and forfeiture of assets to the victim, Judith Okoli.
Justice Rahman Oshodi found the duo guilty after they admitted to dishonestly collecting the funds and diverting the money to settle debts owed to other investors. The sentence takes effect from November 21, 2024, when they were first remanded in custody. The court further convicted D Velvetbox Agro Farm Limited, imposing a N1 million fine on the company.
In addition, the court ordered the convicts to jointly refund N5 million to the petitioner within five months and directed that a Toyota Camry recovered from Chukwugene be forfeited to Judith Okoli.
The defendants were initially arraigned by the Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 2, on a 15-count charge bordering on stealing. During trial, the prosecution called two witnesses and tendered several exhibits. The defendants were later re-arraigned on an amended two-count charge, to which they pleaded guilty.
According to the EFCC, Chukwugene, as Managing Director of D Velvetbox Agro Farm Limited, and Olumuyiwa, trading as Triple J Farm, falsely represented to the complainant that the funds were for poultry investments. Investigations revealed the money was instead used to pay off liabilities to other investors.
Justice Oshodi held that the prosecution proved its case beyond reasonable doubt and convicted the defendants accordingly, describing the judgment as final and binding.