Benin Court convicts Businessman to Seven Years In Prison for Fraud

Justice (Professor) C. A. Obiozor of the Federal High Court in Benin City has sentenced businessman Olabinjor Ajobor to seven years in prison without the option of a fine for fraud.

Ajobor was initially arraigned in 2018 and re-arraigned in July 2023 on an amended three-count charge of obtaining money by false pretences. One of the charges stated: “That you, OLABINJOR AJOBOR, and BISOFRANK INVESTMENT LIMITED, on or about the 21st day of February 2017 in Benin, Edo State, within the jurisdiction of this Honourable Court, did with intent to defraud, induced Mr. George Ezomo to deposit the sum of N6,270,000.00 (Six Million, Two Hundred and Seventy Thousand Naira) through Mr. Michael Ezomoghene into Account No: 1771641039 domiciled in Skye Bank Plc operated by you, with the pretence that the said money was an investment in 66,000 litres of Low Pour Fuel Oil (L.P.F.O) from Petroleum Pricing Marketing Company (PPMC), with a share of 60% of the profit to him, which pretence you knew was false, thereby committing an offence contrary to Section 1(1)(c) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006, and punishable under Section 1(3) of the same Act.”

During the trial, the prosecution, led by counsel I. M. Elodi, called three witnesses who provided testimony and several documents that illustrated the defendant’s fraudulent activities.

In delivering the judgment, Justice Obiozor concluded that the prosecution had proven its case beyond a reasonable doubt. Consequently, Ajobor was sentenced to seven years imprisonment. However, the defendant is eligible for early release if he restitutes the victim the sum of N12.5 million and pays a fine of N500,000 to the Federal Government of Nigeria. Additionally, the judge ordered the winding up of Bisofrank Investment Limited, the second defendant in the case.

Ajobor’s conviction stems from his fraudulent acquisition of N12.5 million from George Ezomo under the false pretence of investing in petroleum products, an investment which was revealed to be a sham.