RismadarVoice Reporters, May 14, 2026
Justice Mojisola Dada of the Lagos State Special Offences Court sitting in Ikeja has convicted and sentenced a businessman, Kingsley Obasi, to seven years imprisonment over a $247,390 fraud.
Obasi was sentenced on Thursday, May 14, 2026, following his prosecution by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC).
The convict was arraigned alongside his company, Great King Parkson Industrial Company, on February 22, 2023, on a one-count charge bordering on stealing.
According to the EFCC, the offence contravened Section 287(9)(b) of the Criminal Law of Lagos State, 2011.
The anti-graft agency had accused the defendant of fraudulently converting the sum of $247,390 entrusted to him in the course of business dealings.
During the trial, the prosecution presented evidence and witnesses to establish the allegation against the businessman and his company.
Delivering judgment, Justice Dada found the defendant guilty and sentenced him to seven years’ imprisonment.
The conviction forms part of the EFCC’s continued efforts to prosecute financial crimes and fraudulent business transactions across the country.
