A Federal High Court in Lagos, has found a businessman, Kenneth Ndubuisi Amadi, guilty of fraud and sentenced to eighteen 18months imprisonment.
Kenneth Ndubuisi Amadi, who is the Chief Executive Officer of IDID Nigeria Limited, was convicted over N2.4 billion fraud charges levelled against him.
The trial judge, Justice Ambrose Lewis-Allagoa, arrived at the decision, after finding him guilty of counts 4 and 5 of the criminal charge made against him by the Federal Government of Nigeria (FGN), through the office of the Attorney General of the Federation (AGF).
Justice Allagoa, declared that the sentencing is without an option of fine, and equally ordered that IDID Nigeria Limited be liquidated with immediate effect.
The judgment had to suffer a set back on November 22, 2022, due to the very busy schedule of the court.
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The convicted Amadi and his company, IDID Nigeria Limited, were dragged before the court by the FGN when he held sway as the Chief Operating Officer (COO) of Eunisell Limited, a company founded by Chief Chika Ikenga.
Prior to Justice Allagoa’s judgment, counsels had adopted their final written addresses on Tuesday, October 25, 2022.
Meanwhile, at the last proceeding, Justice Alagoa, had ruled against the no-case submission instituted by the convict challenging the N2.9bn fraud charge, slammed against him.
Dismissing the No-Case Applications, the judge held that the prosecution had raised issues that require the embattled ex-staff to proffer answers, prompting the court to order Amadi to open his defence.
Amadi had contended that the prosecution had not been able to make any prima-facie case against him and as such had no business being in court.
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He then urged the court to strike out the criminal charge against him and accordingly acquit and discharge him without any further delay.
But responding, the prosecution, led by Mrs. Aderonke Imana, had insisted that Justice Allagoa should discountenance the prayers of the convict, because a case has been made against him and that he ought to put up a defence.
The prosecution then asked the court to order Amadi to open his defence.
The charges against the convicts include receiving and obtaining by false pretence, with intent to defraud, the sum of N2, 900,000,000 belonging to Eunisell Ltd, from A-Z Petroleum Ltd and AMMASCO International Ltd; omitting making full and true entry thereof in the books and accounts; suppression of data in respect of the financial transfer to Eunisell Ltd; and converting same amount without authority to create sufficient deposits to promote the credibility of his own company (IDID Nigeria Limited).
The offences are contrary to section 1(1)(a) of the Advance Fee Fraud and other fraud related offences Act, CapA6, laws of the Federation of Nigeria, 2004 and punishable under section 1(3) of the same Act.
