Salesman bags 2 years for stealing N40 Million

The Economic and Financial Crimes
Commission on December 21, 2016 secured
the conviction of one Friday David, before
Justice Morenike Olasunmbo Obadina of
the Lagos State High Court Igbosere on a
one count charge bordering on Stealing
contrary to section 390(9) of the criminal
code cap C 17, Vol. 11, Laws of Lagos State
of Nigeria.
Friday David was convicted by the court
for stealing the sum of N40, 035,350.00
(Forty Million, Thirty Five Thousand, Three
Hundred and Fifty Naira) belonging to
Universal Steel Limited.
The convict was arraigned by the
Commission on April 16, 2008 on 50 counts
of stealing and fraudulent false accounting
before Justice M.O. Obadina of the High
Court of Lagos State, Igbosere. The 87
count criminal charge was initially
amended on April 23, 2009 and further
amended to a sole count of stealing on
March 7, 2016. Upon arraignment, Friday
David pleaded “not guilty” to the charge
preferred against him. In order to prove
the case against the convict, the
prosecution called
11 witnesses and tendered 38 exhibits (P1-
P38).
The investigation leading to the conviction
commenced when the Commission received
a petition on September 6, 2005 from
Universal Steel Limited, the biggest Iron
manufacturing Private Limited
liability Company, against one Friday
David, Sales Manager, Enamelware
Division of the Company.
Upon conviction by Justice Obadina, Mr.
Friday David was sentenced to two years
imprisonment without the option of fine
commencing from the day of Judgment.The
convict was also ordered to pay the sum of
N40, 035,350.00 as restitution to the
Universal Steel Limited.