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Lagos State High Court in Ikeja has sentenced a businesswoman, Oluremi Phillips, to 17 years imprisonment for defrauding a company

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Lagos State High Court in Ikeja on Thursday, Dec. 12, convicted and sentenced a businesswoman, Oluremi Phillips, to 17 years imprisonment for defrauding a company, AYM Shafa Limited, of N57,690,000.

The EFCC said Phillips and her company, Omritas Energy Limited, sometime in 2016, in Lagos, fraudulently converted and stole the sum of N57,690,000, property of AYM Shafa Limited, meant for the supply of Automotive Gas Oil which she failed to deliver.

The commission said Omritas Energy Limited, on or about April 10, 2017, knowingly issued a Diamond Bank cheque for N14,298,075 to AYM Shafa Limited.

The anti-graft agency said the cheque, when presented for payment, was dishonoured due to insufficient funds in the account.
 
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