The Chief Executive Officer (CEO) of ABD Energy Solution Limited, Kenneth Ndubuisi Amadi, was on Monday, convicted and sentenced to 18 months imprisonment without an option of fine, by Justice Ambrose Lewis-Allagoa of a Lagos Federal High Court, as a result of his involvement in fraud to the tune of N2.9bn.
The judge convicted Amadi for 18 months imprisonment, to run concurrently, after finding him guilty of a criminal charge made against him by the Federal Government of Nigeria (FGN), through the office of the Attorney General of the Federation (AGF).
Specifically, he was sentenced for the act of nominating the account of his company to customers, A-Z Petroleum Limited and Ammasco Limited, for them to act upon as genuine to the prejudice of EUNISELL Ltd, his employers, where he held sway as the Chief Executive Officer (CEO), and failure to make a full and true entry in the books and accounts of the company.
Justice Lewis-Allagoa also ruled that the sentencing is without an option of a fine, and equally ordered that IDID Nigeria Limited, the company used in committing the crime, be liquidated with immediate effect.
Kenneth Amadi and his company, IDID Nigeria Limited, were tried before the court for conspiracy and fraud to the tune of N2.9 billion.
It was proven that while being in employment by Eunisell, Amadi incorporated IDID Nigeria Limited, using it to divert funds belonging to his employer.
The convict and his company, IDID Nigeria Limited, were charged before the court on the offences bothering on obtaining by false pretence, forgery, unlawful fund conversion and fraud.
The offences contravened Section 1 of the Advance Fee Fraud and Other Fraud Related Offences Act Cap A6, Law of the Federation of Nigeria, 2004, and punishable under Section 1(3) of the same Act, Section 1(2)(c) of the Miscellaneous Offence Act, Cap M17 Law of the Federation of Nigeria, 2004 and punishable under the same Section of the Act.
The offences also contravened Sections 27 (b) of Cybercrimes (Prohibition, Prevention, Etc.) Act, 2015 and punishable under Section 14 (1) of the same Act, and Sections 434 and 435 of the Criminal Code Act, Cap C38 Laws of the Federation of Nigeria, 2004 and punishable under the same Section of the Act.
