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Home Judiciary

Court Jails 67-Year-Old Adeigbe for Stealing N26.7m  

by
June 28, 2021
in Judiciary, Top News
Reading Time: 2 mins read
0
Man Bags One Year Jail Term for N26.7m Stocks Fraud in Lagos

Disu Rafiu

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Gbenro Adesina

Justice Sherifat Sholebo on June 25, 2021, handed one year imprisonment to one Disu Rafiu Adeigbe, 67 for stealing, retaining stolen property, impersonation, forgery and used of forged documents to commit fraud.

The jailed old man was arraigned by the Lagos Zonal Office of the Economic and Financial Crimes Commission (EFCC).

According to EFCC, the arrest of the convict was sequel to a petition written to it by the Nigerian Stock Exchange (NSE), alleged that the convict diverted the proceeds of the shares of an investor through forged documents.

While carrying out investigations base on the petition, the antigraft agency uncovered several fraudulent activities carried out by the convict and subsequently began his prosecution hence, the convict was arraigned on November 2, 2019, on an 11-count charge for allegedly stealing dividend warrants totaling N7,118,901.00, belonging to one Dr. Abiola Flavius Akinrele, to which he pleaded “not guilty”.

Based on further findings, he was re-arraigned on November 9, 2020, on an amended eight-count charge for allegedly stealing proceeds from the sale of shares belonging to the late victim to the tune of N21, 417,982.05.

One of the charges reads, “Disu Rafiu Adeigbe, sometime, in 2006 in Lagos, within the jurisdiction of this Honourable Court, with intent to defraud, stole and fraudulently converted to your own use the sum of N26, 720,000 properties of one late Dr. Abiola Flavius Akerele”.

He again pleaded “not guilty” to the amended charges.

In the course of trial, the prosecuting counsel, Franklin Ofoma, called two witnesses and tendered 29 exhibits to prove the case against him.

Delivering his judgment, Justice Sholebo held that the prosecution proved the charges against the convict and so found him guilty of all the counts.

A visibly shaken and sobered Adeigbe, who was given the chance to address the Court, pleaded for mercy, as he told the Court that he had lost all he had during the about 15 months he had been in custody in the course of the trial.

His counsel, Qudus Mumuni, further prayed the Court to temper justice with mercy, saying the “aged man is remorseful and has learnt his lesson”.

After listening to the allocutus, Justice Solebo sentenced him to one year in prison on all the counts to run concurrently.

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Tags: Disu Rafiu AdeigbeefccFraudJustice Sherifat SholeboNigerian Stock Exchange
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