The Federal High Court sitting in Benin City has found Olabinjor Ajobor, a businessman, guilty and sentenced him to seven years imprisonment for defrauding one George Ezomo of 12.5 million naira.

This information was revealed in a statement received by newsmen on Tuesday, 23 July 2024 from the Economic and Financial Crimes Commission (EFCC).

Ajobor was reportedly sentenced to one year in prison on Tuesday, 23 July 2025, with the option to pay a N500,000 as a fine and N12.5 million to the victim, according to the EFCC. On an amended three-count accusation of obtaining by pretense, Ajobor was first arraigned in 2018 and then again in July 2023. Ajobor was charged with three counts of fraud, which the prosecution has proven, according to a statement made by the presiding court, Justice Chuka Obiozor.

The charge 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 Honorable did with intent to defraud induced one Mr. George Ezomo to deposit the sum of Six Million, Two Hundred and Seventy Naira(N6,270,000) 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 supply 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 is false and thereby committed 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.”

The statement claims that the prosecution presented multiple papers as evidence and called three witnesses to testify about the defendant’s method of committing the crime during the trial.

Judge Chuka Obiozor delivered the verdict, finding that Elodi, the prosecution’s attorney, had proven her case beyond a reasonable doubt, finding the defendant guilty and sentenced to seven years in imprisonment without the possibility of a fine. Nevertheless, if the defendant gives the victim N12.5 million and pays the Federal Government of Nigeria a fine of N500,000, he would be released from prison. The judge mandated the closure of Bisofrank Investment Limited company, the second defendant.

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