The Economic and Financial Crimes Commission, EFCC, has secured the conviction of three operators of a wonder bank - Dayo Peter Bulus also known as Bulus Maiyaki, Oyeleye Adetunji alias James Adetunji and Martins Adebajo for offences bordering on conspiracy and obtaining by false pretence to the tune of N968,050.00 (nine hundred and sixty-eight thousand naira, fifty kobo).

The convicts were arraigned on Thursday, December 8, 2016 before Justice Mohammed of Gombe State High Court on a 2-ount charge of conspiracy and obtaining by false pretence.
The convicts allegedly used a company, Graceland Real Option Limited to induce unsuspecting victims to pay twenty percent of any amount they intended to borrow as loan for just twelve percent interest without collateral.
By this, many innocent individuals have been tricked and swindled of their hard earned income.
The offence breaches Section 96 of the Penal Code and punishable under Section 97 of the Penal Code.
They all pleaded guilty to the charge when they were read to them.
In view of their plea, counsel to the EFCC, A. M. Labaran, urged the Court to convict them based on their plea, relying on Section 28 of Evidence Act, 2011.
However, the defense counsel, Mairo Moda, pleaded with the court to temper justice with mercy, adding that the defendants were first offenders, who had no past criminal records and were also bread winners of their various families.
Justice Mohammed consequently convicted the defendants and sentenced each of them to six months imprisonment with option of fine of N40,000.00 (forty thousand naira) on count one, while they were given two months imprisonment with option of fine of N20,000.00 (twenty thousand naira) each on count two.

Media & Publicity
13th December, 2016