Appeal Court Affirms 12-Year Jail For Businessman In Lagos Over $1.4million Fraud
The businessman was re-arraigned on 28 October 2022 on a three-count charge of conspiracy, retention of proceeds of criminal conduct, and obtaining money under false pretence to the tune of $1,410,000.
The Court of Appeal in Lagos State has upheld the conviction and sentencing of Kolawole Adedayo Erinle to 12 years imprisonment for a $1.4million fraud.
The Economic and Financial Crimes Commission (EFCC) said on Monday that the judgment was delivered last Thursday, 19 December 2024, by a three-man panel of the Lagos Division of the Court of Appeal.
Erinle, alongside his company, Rinde-Remdex Nigeria Limited, had been initially arraigned before Justice Oluwatoyin Taiwo of the Special Offences Court, Ikeja, on 11 March 2022, but the case was reassigned to Justice Oshodi after Justice Taiwo’s retirement.
The businessman was re-arraigned on 28 October 2022 on a three-count charge of conspiracy, retention of proceeds of criminal conduct, and obtaining money under false pretence to the tune of $1,410,000.
One of the charges stated: “Kolawole Adedayo Erinle and Edward Dada (still at large), sometime in 2019 at Lagos, within the jurisdiction of this Honourable Court, conspired to falsely represent yourselves as J.E. Dunn, a local construction company in America, with intent to gain monetary advantage in the sum of $1,410,000 by creating a fake domain name jedunn.org and thereby committed an offence contrary to Section 8 of the Advance Fee Fraud and Other Related Offences Act No 14, 2006.”
During the trial, Erinle admitted under cross-examination that he was a convicted fraudster in the United States, where he had served 23 months in prison. Despite initially denying the charges, he later expressed remorse, stating, “I am sorry.”
Justice Oshodi had convicted Erinle on 26 September 2023, sentencing him to 12 years imprisonment on count three, with concurrent sentences starting from 10 February 2023.
His company was fined N50 million and ordered to be wound up, with proceeds forfeited to the Federal Government.
Seeking redress, Erinle filed an appeal, but the EFCC’s counsel, T.J. Banjo, urged the appellate court to dismiss it for lacking merit.
In the lead judgment, Justice Danlami Zama Senchi upheld the trial court’s decision, stating that the prosecution had proved its case beyond reasonable doubt.
