Court Convicts Rahvet International for ₦21m Fraud, Imposes ₦100,000 Fine

Justice Ismail Ijelu of the Lagos State Special Offences Court, Ikeja, convicted Rahvet International Limited for fraudulently converting the sum of ₦21 million belonging to one Chioma Adeoye.

The company was arraigned by the Economic and Financial Crimes Commission (EFCC) on the same date on an amended one-count charge bordering on stealing, contrary to Section 285(1) of the Criminal Law of Lagos State, 2011.

The charge stated that Rahvet International Limited, sometime in June 2021, at Lagos within the Ikeja Judicial Division of the High Court, fraudulently converted for its own use the sum of Twenty-One Million Naira (₦21,000,000), being the property of Chioma Adeoye.

The defendant pleaded guilty to the charge.

Following the guilty plea, the prosecuting counsel, Anita Imo, called an EFCC operative, Leonard Ayakor, to review the facts of the case.

Ayakor told the court that the defendant approached the complainant under the pretext of conducting research and induced her to pay money into the company’s bank account.

He informed the court that investigations revealed that a total sum of ₦21 million was paid into the defendant’s account.

The witness further stated that the money had been fully refunded to the nominal complainant during the course of investigation.

The prosecution tendered the petition written by the complainant as well as the defendant’s statements, which were admitted in evidence and marked as exhibits by the court.

After reviewing the facts and the plea of the defendant, Justice Ijelu found Rahvet International Limited guilty as charged and convicted the company accordingly.

The court sentenced the company to a fine of ₦100,000, payable within 72 hours.

The court also noted that restitution of the ₦21 million had been fully made to the petitioner through the EFCC.