A middle-aged man, Olaolu Salau has been sentenced to 168 years imprisonment with hard labour by an Ikeja High Court, Lagos state for defrauding Solomon Ayoola, a Lagos based businessman of N2.5 million.
Following a plea bargain entered into by the convict and the Economic and Financial Crime Commission (EFCC), Salau will however serve only 18 months in jail.
Justice Adeniyi Onigbanjo ruled that the convict serve seven years for each of the 24-counts at Krikiri Prisons but to run concurrently starting from December 11, 2007, the date he was arrested by the EFCC.
The Judge also ordered the convict to pay restitution of N2.5 million to his victim, adding that the money must be paid within a year of his release from prison. The court also approved a plan by prosecutors to use Mr. Salau as a prosecution witness against the remaining defendants.
The trial of the three other defendants, Akinsowon Olufemi, Adebisi Adewale, and Muyiwa Ayeni who are bing remanded in Kirikiri Prison will resume on until July 22, 2013.
Salau was charged by the EFCC for conspiring with four others with intent to defraud the businessman, Ayoola of various sums between June and November 2006. The offence contravened section 419 of advanced fee fraud and miscellaneous offences.
The investigators findings led to a 24-count charge, one on conspiracy and 23 others bordering on advanced fee fraud and obtaining money by false pretence leveled against him..