A Federal High Court sitting in Ikoyi, Lagos, has convicted and sentenced four individuals for their roles in a money laundering scheme involving $5,296,691.
The convicts; Bamidele Ayodele Emmanuel, Abdullah Oriyomi Yusuf, Garuba Fathiat Funmilayo, and Gbenro Victor Ademola, were separately arraigned by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission, EFCC, on two-count charges bordering on money laundering, contrary to the provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.
The EFCC’s Head of Media and Publicity, Dele Oyewale, disclosed in a statement on Friday that Justice F.N. Ogazi delivered the judgment on Wednesday, August 5.
One of the charges against Bamidele Ayodele Emmanuel stated that he retained $826,691 in his Wema Bank account between January 1 and January 31, 2025, despite having reasonable grounds to know that the funds were proceeds of unlawful activities, an offence punishable under Section 18 of the Money
