Kolawole Erinle, a U.S. ex-convict has received a 12-year prison sentence for defrauding Kansas City University of Medicine and Biosciences of $1.4 million.
Delivering judgement on Tuesday, Justice Rahman Oshodi of the Ikeja Special Offences Court handed down a 20-year jail term to the convict.
He was sentenced on three counts, which included conspiracy, retaining proceeds of criminal activity, and obtaining money under false pretenses.
Justice Oshodi firmly declared Erinle’s guilt, stating that the prosecution had convincingly proven the case beyond any reasonable doubt.
Background
Erinle had masterminded an elaborate scheme involving email spoofing to deceive KCUMB into transferring funds meant for J.E. Dunn.
Erinle, under the name of E. Dada Autos, controlled Bank of America accounts and wired $1.4 million to them
The court’s evidence demonstrated that he subsequently dispersed the money in multiple transactions, including transfers to a co-conspirator’s account.
Exhibit P to P1 documents furthermore shows Erinle’s channeling of ill-gotten gains to family members and acquired assets.
Throughout the trial, the Economic and Financial Crimes Commission’s legal counsel, Mr. Temitope Banjo, presented four witnesses and numerous documentary exhibits.
The prosecution argued that the offenses violated Section 8(a)(b) of the Advance Fee Fraud and Other Related Offences Act, 2006.
The judge considered Erinle’s prior conviction for bank fraud in the U.S. and his failure to reform as aggravating factors.
Despite Erinle expressing remorse, Justice Oshodi remained unconvinced of his sincerity.
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Court’s Decision
Consequently, Erinle received a five-year sentence for count two and a 15-year sentence for count three, with the sentences running concurrently from February 10 when he was initially remanded.
Furthermore, Erinle’s company, Rinde-Remdex Nigeria Ltd., incurred a fine of N50 million and received an order for dissolution from the Corporate Affairs Commission, with the proceeds forfeited to the Federal Government.
Restitution was also mandated for the victim, with all seized properties and vehicles to be sold, and the proceeds allocated to the victim through the FBI.
Source: NAN