Justice Oluwatoyin Taiwo of a Lagos Special Offences Court, Ikeja, has exonerated former Managing Director of American International Insurance Company (AIICO) Capital Limited, a subsidiary of AIICO Plc., Lanre Fabunmi, of stealing and dishonestly converting N1.7 billion belonging to the firm.
Others acquitted with him are: Onome Odometa, Olajumoke Akano and Olabode Ogunlere. The trial judge absolved the defendants of all the 22 counts charges brought against them by the Economic and Financial Crimes Commission (EFCC).
The defendants were arraigned on 22 amended counts, bordering on alleged conspiracy, stealing, dishonest conversion of funds for purpose of purchasing properties and converting funds belongs to the firm.
The alleged offence is contrary to and punishable under Section 287(8), 332(3) of the Criminal Law of Lagos State 2015.
The EFCC had alleged that the defendants had been appropriating some money to themselves illegally in the guise of sales commission.
Following…
Source: Guardian Newspaper
