Olalekan Adewoye, the Managing Director (MD) of Sunsteel Industry Limited (Ltd.) has been charged for $680,622.65 fraud by the Economic and Financial
Olalekan Adewoye, the Managing Director (MD) of Sunsteel Industry Limited (Ltd.) has been charged for $680,622.65 fraud by the Economic and Financial Crimes Commission (EFCC).
Adewoye was arraigned before Justice Mojisola Dada on Thursday, May 8 at the Lagos State High Court in Ikeja on a two-count charge of stealing and obtaining $680,622.65 under false pretence.
One of the charges read, “That you, Olalekan Adewoye, Sunlek Investments Limited and Sunsteel Industries Limited, sometime between 2013 and 2014 in Lagos, within the jurisdiction of this Honourable Court, with a dishonest intent, stole and converted, for your own use, the aggregate 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 Company, being the value of construction materials supplied to you, and you thereby committed an offence, to wit, obtaining property by false pretence, contrary to and punishable under Section 1(1), (2) and (3) of the Advance Fee Fraud and other Fraud Related Offences Act No. 14 of 2006.”
However, Adewoye pleaded not guilty to the charges.
The prosecuting counsel Abdulhamid L. Tukur then asked the court to fix a trial date and requested that the defendant be remanded.
However, defence lawyer Olusegun O. Jolaawo, a Senior Advocate of Nigeria (SAN), informed the court that a bail application was already before it and noted that his client had complied with all terms of the administrative bail earlier granted by the EFCC.
Justice Dada ruled that Adewoye may continue on administrative bail but must submit his passport and the title documents for two properties to the court registry.
The judge then adjourned the case to on June 3 and June 19.
