EFCC Arraigns Saphire Scents’ MD over alleged N12 million investment Fraud

0
5
Former Special Adviser Denies Laundering $15.6 million ‘Patience Jonathan’s Funds’


The Managing Director of Saphire Scents Limited, Adewale Aladejana has been arraigned before the Federal High Court in Bwari, Abuja for N12 million investment fraud.

The EFCC disclosed this in a statement by the EFCC spokesperson, Wilson Uwujaren, on Friday.

He was arraigned before Justice M. A Madugu on October 4 for obtaining the amount under false pretenses.

What you should know

According to the EFCC, he was charged with three counts of embezzlement and obtaining under false pretenses.

He is alleged to have collected the sum of N12 million from potential investors in his company promising a turnover in six months. However, he did not offer the promised profit nor did he return the invested funds to his investors.

The news continues after this ad




At the arraignment, he pleaded not guilty to the charges filed against him by the EFCC.

Count one of the indictment reads, “That you, Adewale Aladejana being the Managing Director of Saphire Scents Limited, and your Saphire Scents Limited in Abuja within the jurisdiction of this court on or about the 16th day of September 2019 were entrusted in the sum of N4million by one Anaetoh Obianuju for the investment of The Saphire Scents Limited dishonestly misappropriated the same and thereby committed an offense contrary to Section 311 of the Penal Code Act, Cap 532 LFN (Abuja) 1990 and punishable under Section 312 of the same Act.

The news continues after this ad



Counting two reads, “tthat you Adewale Aladejana who is the Managing Director of Saphire Consult and you Saphire Scents Limited in Abuja within the jurisdiction of this court on or about the 9th day of April 2019 entrusted with the sum of N4million in a patience Idu Ipenyi for investment of Saphire Scents Limited, dishonestly misappropriated the same and thereby committed an offense contrary to Section 311 of the Penal Code Act, Cap 532 LFN (Abuja ) 1990 and punishable under Section 312 of the same Act.

After he obtained his plea, his lawyer prayed the court to grant him bail pending the hearing and determination of the case.

Justice Madugu granted him bail in the sum of N4 million with a bail condition that he furnish two sureties in like sum.

After that, the judge adjourned the case until November 21 and 22, 2022 for the start of the trial.

LEAVE A REPLY

Please enter your comment!
Please enter your name here