Tue. Oct 19th, 2021

Dangote’s GM, 2 Others Jailed 14 Years for $32,000 Insurance Fraud


Dangote’s GM, 2 Others Jailed 14 Years for $32,000 Insurance Fraud

An Ikeja High Court of Lagos, presided over by Justice S. S. Ogunsanya, today slammed a 14-year jail term each on three convicts including a former General Manager of Dangote Industries Limited, Mr Raymond Akanolu for their involvement in a $32,000 USD (N15 million) insurance fraud.

Akanolu, Mojisola Aladejobi, and Balogun Omololu Alaba were dragged before the court by the Lagos Zonal office of the Economic and Financial Crimes Commission (EFCC).

The defendants were arraigned on a two-count charge bordering on conspiracy and attempt to obtain money by false pretence to the tune of $32,000 USD.

The Convicts, newsdishng.com were sometime in October, 2014, in Lagos allegedly conspired among themselves to defraud Dangote Industries Limited of the sum of $32,000 by inflating the premium for the renewal of insurance policy cover for its Hawker Aircraft with Registration Number 5N-DGN. 

The offences were said to be contrary to section 323 of the Criminal Law of Lagos State, No. 11 of 2011.

The Convicts full trial commenced after they all pleaded ‘not guilty’ to the charges preferred against them.

The prosecuting counsel, Samuel O. Daji and Babatunde Sonoiki, called witnesses and tendered documents that were admitted in evidence by the Court.

In his judgment, Justice Ogunsanya found the defendants guilty of the offence and sentenced them to seven years imprisonment each on both counts of the charges.