A Lagos state high court sitting in Ikeja, on Monday, March 30, sentenced businessman Olumuyiwa Teniola Idowu to 30 years imprisonment over fraud involving $62,500 and €36,020.
Idowu, alongside his company, Tennyvans Nigeria Limited, was arraigned by the Economic and Financial Crimes Commission (EFCC) on a six-count charge bordering on stealing and failure to declare assets.
The offences violate section 285 of the Lagos state criminal law, 2011 and section 27(3) of the EFCC act, 2004.
According to the charges, Idowu and his company in 2012 dishonestly converted $62,500 meant for the purchase of Caterpillar parts belonging to Rene Theodorous Johannes Brouwers of Brouwers USA Trucks and Parts.
In a separate count, they were also accused of diverting €36,020 intended for the cost and shipment of a DAF truck, box trailer, and two tippers belonging to the same complainant.
Idowu was first arraigned on November 27, 2024, and pleaded not guilty, leading to a full trial.
During proceedings, the prosecution, led by E. S. Okongwu, presented three witnesses and tendered eleven exhibits, all of which were admitted in evidence, while the defence counsel, Kehinde Olawumi, called one witness.
Justice Ismail Ijelu held that the prosecution proved its case beyond a reasonable doubt and accordingly found the defendant guilty on all counts.
He was sentenced to five years imprisonment on counts one to four, to run concurrently, and another five years imprisonment on counts five and six, with an option of a ₦1 million fine per count, payable within six months; failing which, the custodial sentence would apply.
In addition, the court ordered Idowu to make full restitution of the $62,500 and €36,020 to the complainant within six months.
Following the judgment, Idowu was remanded at the Ikoyi correctional centre.
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