In a major financial crime ruling, a Lagos High Court sitting in Ajah has sentenced businessman Chukwudi Goodness to 74 years in prison for a staggering N360 million fraud and issuing 31 dud cheques.
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Justice Josephine Oyefeso, who delivered the judgment on Tuesday, found the 45-year-old defendant guilty on 32 of 33 charges brought against him by the Economic and Financial Crimes Commission (EFCC).
According to EFCC prosecutor T.J. Banjo, the case began in 2016 after a complaint by Mr. Henry Nnadike, who claimed he was defrauded in a business deal gone wrong between June and July 2015.
“That you, Chukwudi Okonkwo Goodness, sometime between the months of June and July, 2015 at Ikeja… fraudulently converted and stole the sum of N360,000,000,” read one of the charges.
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The court heard that Goodness issued 31 dud cheques to Nnadike and misappropriated the funds. The EFCC provided four witnesses and multiple exhibits during the trial.
Justice Oyefeso ruled that the prosecution had “proved its case beyond reasonable doubt.” Goodness received seven years for the main theft charge, two years each for the dud cheques, and another seven years for an additional theft count. However, the sentences are to run concurrently, effectively limiting the jail term to seven years.
In a significant restitution order, the judge directed Goodness to refund N215 million to the victim within 30 days, stating that the option of a fine would only be considered after the payment.
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The only charge for which Goodness was acquitted involved possession of documents with false pretenses.
The EFCC welcomed the ruling as a strong message to fraudsters operating in the Nigerian business environment.
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