EFCC drags Wale Jana to court for committing fraud to tune of N12m

EFCC drags Wale Jana to court for committing fraud to tune of N12m

The Economic and Financial Crimes Commission (EFCC) has arraigned Wale Jana, the managing director (MD) of Sapphire Scents Limited, over N12 million f

EFCC acting chairman, Bawa, promoted to Level 14 ahead of senate screening
Supo Sashore, former Lagos attorney-general commits $100,000 fraud
Zenith Bank debunks report on GMD’s arrest over alleged fraud in Ministry of Humanitarian Affairs

The Economic and Financial Crimes Commission (EFCC) has arraigned Wale Jana, the managing director (MD) of Sapphire Scents Limited, over N12 million fraud.

Wilson Uwujaren, EFCC’s spokesperson, made this announcement in a statement on Friday, October 7.

The businessman was arraigned on three-count charges bordering on misappropriation and obtaining under false pretence before M. A Madugu of the federal high court sitting in Bwari, Abuja, on October 4.

The statement also said that the entrepreneur obtained money under false pretence to the tune of N12 million.

According to the statement, Jana collected the said amount from potential investors in his company, with a promise of turnover in six months, without offering any profit or returning the invested funds to his investors.

Count one reads, “That you, Adewale Aladejana, being the managing director of Sapphire Scents Limited, within the jurisdiction of this honorable court on or about the 16th day of September 2019 being entrusted with the sum of four million baira (N4,000,000) by one Anaetoh Obianuju for investment in Sapphire Scents Limited dishonestly misappropriated same and thereby committed an offence contrary to section 311 of the penal code act, cap 532 LFN (Abuja ) 1990 and punishable under section 312 of the same act.”

The businessman, however, pleaded not guilty to all the charges when they were read to him.

S. A Ugwuegbulam, the prosecuting counsel, however, asked the court to give a trial date to enable him to prove the case.

The defence counsel, Eyitayo Fatogun, then asked the court to grant his client’s bail application pending the hearing and determination of the case.

The presiding judge, in his ruling, adjourned the case to November 21 and 22.