The Court of Appeal in Lagos has upheld the conviction and 12-year prison sentence of Kolawole Adedayo Erinle, a businessman found guilty of defrauding a foreign company of $1.4 million.
The judgment, delivered on Thursday, 19 December 2024, by a three-man panel of the Court of Appeal, affirmed the sentencing of Erinle, alongside his company, Rinde-Remdex Nigeria Limited, on charges of conspiracy, retention of proceeds of criminal conduct, and obtaining money under false pretence.
Erinle had been initially arraigned before Justice Oluwatoyin Taiwo of the Special Offences Court in Ikeja on 11 March 2022.
However, following Justice Taiwo’s retirement, the case was reassigned to Justice Oshodi.
On 28 October 2022, Erinle was re-arraigned on the three-count charge, which included the false representation of himself and his accomplice, Edward Dada (still at large), as agents of J.E. Dunn, a construction company based in the United States.
They created a fraudulent domain name, jedunn.org, to deceive their victims into transferring $1,410,000.
The Economic and Financial Crimes Commission (EFCC) had accused Erinle of perpetrating the crime in 2019 in Lagos, with the intent to exploit the fraudulent representation for monetary gain.
During the trial, Erinle admitted to being a convicted fraudster in the United States, where he served 23 months in prison for similar offences.
Although he initially denied the charges, he later expressed remorse, stating, “I am sorry.”
Justice Oshodi, after considering the facts of the case, convicted Erinle on 26 September 2023, sentencing him to 12 years in prison for obtaining money under false pretence.
The sentence was ordered to run concurrently, beginning from 10 February 2023. Erinle’s company was also fined N50 million and ordered to be wound up, with all proceeds forfeited to the Federal Government.
Erinle sought to appeal the conviction, but the EFCC’s counsel, T.J. Banjo, argued that the appeal lacked merit and urged the appellate court to dismiss it.
In the lead judgment, Justice Danlami Zama Senchi upheld the lower court’s ruling, stating that the prosecution had successfully proven its case beyond reasonable doubt.
Erinle’s appeal was dismissed, cementing the conviction and serving as a stern reminder of the consequences of financial fraud.
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