The Economic and Financial Crimes Commission (EFCC) has arraigned Wale Jana, the managing director (MD) of Sapphire Scents Limited, over alleged N12 million fraud.
Wilson Uwujaren, EFCC’s spokesperson, announced Jana’s case in a statement on Friday.
The businessman was arraigned on three-count charges bordering on misappropriation and obtaining under false pretence before M. A Madugu of the federal high court sitting in Bwari, Abuja on October 4.
The statement also said the entrepreneur allegedly obtained money under false pretence to the tune of N12 million.
According to the statement, Jana collected the said amount from potential investors in his company — with a promise of turnover in six months — without offering any profit or returning the invested funds to his investors.
EFCC Arraigns Sapphire Scents’ MD for N12 million Fraud
The Economic and Financial Crimes Commission, EFCC, has arraigned the Managing Director of Sapphire Scents Limited, Adewale Aladejana, before Justice M. A Madugu of the Federal High Court sitting in Bwari, Abuja,… pic.twitter.com/QY3GmnMGiiAdvertisement
— EFCC Nigeria (@officialEFCC) October 7, 2022
“That you Adewale Aladejana being the managing director of Saphire Scents Limited and you Saphire Scents Limited in Abuja within the jurisdiction of this honorable court on or about the 16th day of September 2019 being entrusted with the sum of Four Million Naira ( N4,000.000) by one Anaetoh Obianuju for investment in Saphire Scents Limited dishonestly misappropriated same and thereby committed an offence contrary to Section 311 of the Penal Code Act, Cap 532 LFN (Abuja ) 1990 and punishable under Section 312 of the same Act,” count one read.
The businessman, however, pleaded not guilty to all the charges when they were read to him.
Reacting, S. A Ugwuegbulam, the prosecuting counsel, prayed the court to give a trial date to enable him to prove the case.
Eyitayo Fatogun, the defence counsel, then prayed the court to grant his client’s bail application pending the hearing and determination of the case.
In his ruling, the judge adjourned the matter to November 21 and 22.
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