The Federal High Court in Abuja has sentenced a notorious internet fraudster, Oluwafemi Ogunleye to three-month in prison following a plea bargain agreement.
The convict pleaded guilty to charges related to the misappropriation of funds amounting to ₦3 billion belonging to Interswitch Ltd.
Justice Inyang Ekwo delivered the ruling, explaining the importance of accountability and restitution in cases of financial crimes. Ogunleye’s sentence is set to commence from February 5th, and he will remain in custody until the payment of a fine totaling N1 million.
The court further stipulated that Ogunleye must forfeit substantial assets acquired through illicit means. These include a Toyota Corolla 2014 Model, numerous bank accounts holding approximately ₦1.7 billion, and various properties such as shops in Kuje Shopping Complex and a luxurious detached duplex in Lagos.
The plea bargain agreement, filed on February 2, 2024 revealed Ogunleye’s acknowledgment of guilt regarding two counts of fraud. He agreed to surrender all assets obtained through criminal activities, even those discovered post-conviction.
The charges against Ogunleye, detailed in a document marked FHC/ABJ/CR/596/2023, accuse him of utilising various bank accounts to unlawfully siphon funds from Interswitch Limited. The Cybercrime (Prohibition Prevention, ETC) Act, 2015, outlines the legal basis for these accusations.
