The Economic and Financial Crimes Commission today December 21, 2016
secured the conviction of one Friday David, before Justice Morenike
Olasunmbo Obadina of the Lagos State High Court Igbosere on a one count
charge bordering on Stealing contrary to section 390(9) of the criminal
code cap C 17, Vol. 11, Laws of Lagos State of Nigeria.
Friday David was convicted by the court for stealing the sum of
N40,035,350.00 (Forty Million, Thirty Five Thousand, Three Hundred and
Fifty Naira) belonging to Universal Steel Limited. "The prosecution has
proved this case beyond reasonable doubt; the defendant was dishonest in
dealing with a customer and the company. I find him guilty of stealing
the sum of N40, 035, 350.00", Justice
Obadina said.
The convict was arraigned by the Commission on April 16, 2008 on 50
counts of stealing and fraudulent false accounting before Justice M.O.
Obadina of the High Court of Lagos State, Igbosere.
The 87 count criminal charge was initially amended on April 23, 2009 and
further amended to a sole count of stealing on March 7, 2016. Upon
arraignment, Friday David pleaded “not guilty” to the charge preferred
against him.
In order to prove the case against the convict, the prosecution called
11 witnesses and tendered 38 exhibits (P1-P38). The investigation
leading to the conviction commenced when the Commission received a
petition on September 6, 2005 from Universal Steel Limited, the biggest
Iron manufacturing Private Limited liability Company, against one Friday
David, Sales Manager, Enamelware Division of the Company.
Upon conviction by Justice Obadina, Mr. Friday David was sentenced to
two years imprisonment without the option of fine commencing from the
day of Judgment. The convict was also ordered to pay the sum of N40,
035,350.00 as restitution to the Universal Steel Limited.
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