EFCC Arraigns Businessman Over Alleged $680k Fraud
THECONSCIENCE NG reports that The Economic and Financial Crimes Commission (EFCC) has arrainged the Managing Director and Chief Executive Officer of Sunsteel Industries Limited Olalekan Adewoye for alleged $680,622.65 fraud.
Adewoye was on Tuesday arrainged alongside his companies, Sunlek Investments Limited before Justice Mojisola Dada of an Ikeja Special Offences Court on a two-count charge bordering on stealing and obtaining property by false pretence to the tune of $680,622.65.
He pleaded not guilty when the charges were read to him.
Following his not guilty plea, the prosecution counsel, Abdulhamid L. Tukur, prayed the court for a trial date and asked that the defendant be remanded in a correctional centre.
The defence counsel, Olusegun O. Jolaawo (SAN), informed the court of a pending bail application and further prayed the court to admit the defendant to bail.
Jolaawo stated that the defendants “has never jumped the administrative bail granted him by the EFCC.”
Justice Dada ordered that the defendant should continue to enjoy the administrative bail earlier granted him by the EFCC.
The judge however ordered that the defendant should deposit his passport and documents of two landed properties with the court’s registrar.
The judge adjourned the case till June 3 and 19, June 2025 for commencement of trial.
One of the charges reads: “That you, Olalekan Adewoye, Sunlek Investments Limited and Sunsteel Industries Limited, sometime between 2013 and 2014 in Lagos, with a dishonest intent, stole and converted, for your own use, the aggregate sum of $680,622.65 property of Hexagon Im-und Export GmbH & Co KG, a German Company, being the value of construction materials supplied to you, and you thereby committed an offence, to wit, obtaining property by false pretence, contrary to and punishable under Section 1(1), (2) and (3) of the Advance Fee Fraud and other Fraud Related Offences Act No. 14 of 2006.”
