Man Sentence to 14 years imprisonment for fraud!

A Federal High Court, Lagos on Wednesday sentenced Godwin Nwaichie to 14 years imprisonment for N14, 743,000 for fraudulent acceptance of  deposits from unsuspecting customers.

Justice Ibrahim Buba sentenced Nwaichie to prison after the convict pleaded guilty to the fraud charge instituted against him by the Special Fraud Unit of the Nigeria Police.

 

He, along with others, was said to have perpetrated the fraud through misrepresentation to unsuspecting customers that their deposits would be paid to them with 50 per cent interest within 21 days.

 

A number of the victims, who were duped between June and December 2009, were said to be businessmen at the Alaba International Market, Ojo, Lagos.

 

Justice Buba ordered in his judgment on Wednesday that the sentence would start counting from January 9, 2010, when he had been in custody.

 The judge said, “The convict, a 23 years old man at the time of arrest, who ought to be vibrant and hardworking, decided to utilise his intelligence for fraud.

“For such offence, the law provides a maximum of 20 years imprisonment and minimum of seven years.

“The convict is hereby sentenced to 14 years imprisonment beginning from January 9, 2010 when he was first arrested.