A Tinubu Magistrates’ Court on Thursday sentenced one Akeem Abass, a 52-year-old stock broker, to six-year imprisonment for confiscation of his client’s stock worth N7.3m.
Abass was arraigned in 2013 on eight counts bordering on fraud and theft.
The convict had pleaded ‘not guilty’ to the offences.
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But the prosecutor, Inspector Ben Ekundayo, told the court that the convict committed the offence on several dates in June, September and October 2011.
He said that the convict had, on those dates, between the hours of 6:00 a.m. and 5:00 p.m. at No. 3, Williams St., Ikoyi, Lagos, presented documents to Crown Capital Ltd in the name of his client (name withheld) without her authorisation to sell her stock.
Ekundayo said that the convict unlawfully and fraudulently obtained, 786.173 units of stock valued…
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