By Peter Omopo
A Lagos State High Court sitting in Ikeja has sentenced Olumuyiwa Teniola Idowu and his firm, Tennyvans Nigeria Limited, to a combined 30 years imprisonment over fraud involving $62,500 and €36,020.
Delivering judgment, Justice Ismail Ijelu held that the prosecution proved its case beyond reasonable doubt, finding the defendants guilty on a six-count charge bordering on stealing and failure to declare assets.
The offences contravened provisions of the Criminal Law of Lagos State, 2011, as well as the Economic and Financial Crimes Commission Act, 2004.
According to court proceedings, the convict dishonestly converted $62,500 meant for the purchase of caterpillar parts, property belonging to a foreign-based businessman. He was also found guilty of converting €36,020 meant for the cost and shipment of a DAF truck, box trailer, and two tippers.
Idowu was first arraigned on November 27, 2024, where he pleaded not guilty, leading to a full trial. During the proceedings, the prosecution presented three witnesses and tendered eleven exhibits, while the defence called one witness.
Justice Ijelu sentenced the defendant to five years imprisonment on counts one to four, to run concurrently. He was also handed five years imprisonment on counts five and six, with an option of a fine of N1 million on each count to be paid within six months or serve the jail terms.
In addition to the custodial sentences, the court ordered the convict to restitute the sum of $62,500 and €36,020 to the complainant within six months.
Following the judgment, Idowu was remanded at the Ikoyi Correctional Centre.
