EFCC has arraigned Sunsteel Managing Director, Adewoye for alleged $680,622.65 fraud in Lagos state.
PoliticalNews Nigeria experiences that the Lagos Zonal Directorate 2 of the {Economic} and {Financial} Crimes Fee, EFCC, Okotie-Eboh, Ikoyi, Lagos, on Thursday, Might, 8, 2025, arraigned Olalekan Adewoye, Managing Director and Chief Government Officer, CEO, of Sunsteel Industries Restricted, earlier than Justice Mojisola Dada of the Lagos State Excessive Court docket, sitting in Ikeja, Lagos for alleged fraud.
Adewoye was arraigned alongside his corporations, Sunlek Investments Restricted and Sunsteel Industries Restricted, on a two-count cost, bordering on stealing and acquiring property by false pretence to the tune of $680,622.65 (Six Hundred and Eighty Thousand, Six Hundred and Twenty- two {Dollars} Sixty-five Cents).
One of many expenses reads: “That you just, Olalekan Adewoye, Sunlek Investments Restricted and Sunsteel Industries Restricted, someday between 2013 and 2014 in Lagos, throughout the jurisdiction of this Honourable Court docket, with a dishonest intent, stole and transformed, in your personal use, the combination sum of $680,622.65 (Six Hundred and Eighty Thousand, Six Hundred and Twenty- two {Dollars} Sixty-five Cents), property of Hexagon Im-und Export GmbH & Co KG, a German Firm, being the worth of building supplies provided to you, and also you thereby dedicated an offence, to wit, acquiring property by false pretence, opposite to and punishable below Part 1(1), (2) and (3) of the Advance Charge Fraud and different Fraud Associated Offences Act No. 14 of 2006.”
He pleaded “not responsible” to the fees after they have been learn to him, following which the prosecution counsel, Abdulhamid L. Tukur, utilized for a trial date and requested that the defendant be remanded in a correctional centre, whereas defence counsel, Olusegun O. Jolaawo SAN, knowledgeable the courtroom of a pending bail software and additional prayed the courtroom to confess the defendant to bail, stating that “has by no means jumped the executive bail granted him by the EFCC.”
The decide, Dada ordered that the defendant ought to proceed to benefit from the adminstrative bail earlier granted by the EFCC, however the defendant should deposit his passport and paperwork for 2 landed properties with the courtroom registry.
The case was adjourned to June 3 and 19, 2025, for the graduation of the trial.