Kolawole Erinle, a businessman, was found guilty of defrauding the government out of $1.4 million and was sentenced to twelve (12) years in jail by Justice R. A. Osodi of the Special Offences Court in Ikeja, Lagos.
The Economic and Financial Crimes Commission announced on Friday that Erinle and his company, Rinde-Remdex Nigeria Limited, were initially charged on March 11, 2022, before Justice Oluwatoyin Taiwo of the Special Offences Court in Ikeja, Lagos.
Although he entered a “not guilty” plea, the trial could not be finished before Justice Taiwo retired, which led to the case being reassigned to Justice Oshodi.
Then, on October 28, 2022, he was re-arrested before Justice Oshodi on three counts related to conspiracy, keeping the proceeds of illegal activity, and acquiring $1,410,000 (one million four hundred and ten thousand dollars) under false pretence.
The following is one of the charges: “Kolawole Adedayo Erinle and Edward Dada (still at large), sometime in 2019, at Lagos, within the jurisdiction of this Honourable Court, conspired to falsely represent yourselves as J.E. Dunn, a local construction company in America, with intent to gain financial advantage in the amount of $1,410,000 (One Million Four Hundred and Ten Thousand United States Dollars) by creating a fake domain name jedunn.org and
Another count states: “On or about May 3, 2019, at Lagos, within the jurisdiction of this Honourable Court, Kolawole Adedayo Erinle, Rinde-Remdex Nigeria Limited, and Edward Dada (still at large), retained control of $1,410,000 (One Million Four Hundred and Ten Thousand United States Dollars) in your Access Bank account, which sum you knew to be the proceeds of various internet and cybercrime.”
Again, he entered a “not guilty” plea to the accusations.
The prosecution’s attorney, T.J. Banjo, brought four witnesses throughout the trial, through whom various pieces of documentation evidence were presented to support the case against him and his business.
According to the EFCC, the prosecution also provided proof that Erinle had previously served time in prison in the US for bank fraud.
“On February 10, 2023, Justice Oshodi revoked the bail that had previously been granted to the defendant after the prosecution submitted an application demonstrating that he had never adhered to the bail restrictions set forth earlier by Justice Taiwo.
Erinle entered the dock to present his defence after the prosecution finished presenting its case.
He refuted the accusations made against him by the prosecution while being testified against by his attorney, Lawal Pedro, SAN.
“During the prosecution’s cross-examination, he acknowledged that he had served 23 months in prison in the US and was an ex-convict. Additionally, he expressed a change of heart and apologised to his victim, according to the statement.
Justice Oshodi issued a ruling on September 26, 2023, finding the defendant and his business to be guilty of the charges against them and concluding that the prosecution had successfully established its case against them beyond a reasonable doubt.
According to the prosecution, Erinle “spoof[ed] the email address of J.E. Dunn’s financial controller by faking the domain name of jedunn.com to jedunn.org,” a “premeditated” act that led to “you providing Bank of America details in the name of E. Dada Autos when KCUMB was about to pay J.E. Dunn and you caused the money to be transferred in tranches of $850,000 and $450,000 after
The trial judge added, “The evidence reveals that you transferred the proceeds of your crime to your nominees, including your mother and wife, and that you also purchased the automobiles and other items shown in exhibits P to P1.
“I have taken into account the prosecution’s arguments that you have already been found guilty of bank fraud in the US.
“I have taken into account the fact that you have remained the same throughout your 23-month prison sentence, which you have acknowledged to me.
“I’ve thought of the aforementioned as aggravating issues. You also expressed regret to me, however I don’t think it was sincere, even though you did say it.
Justice Oshodi then gave him a five-year sentence on count two and a 12-year sentence on count three. The sentences will begin to serve concurrently on February 10, 2023, the date the court ordered his remand.
The Corporate Affairs Commission (CAC) fined Rinde-Remdex Nigeria Limited N50 million and ordered that it be wound up, with the revenues going to the Federal Government of Nigeria.
Additionally, the defendants were mandated to pay the victim back.
The Judge further mandated that all of the goods and cars that had been taken from them by the EFCC be auctioned and used to pay compensation to the victim via the FBI.
The court further stated that the money he had to his credit that had been recovered by the EFCC and the corporation “shall be applied as restitution for the victim by the FBI; this is without prejudice to the prosecution and the victim to secure a full restitution.”
When Erinle was charged with three counts of defrauding the Kansas City University of Medicine and Biosciences, KCUMB, in the United States of approximately $1,412,509 (one million, four hundred and twelve thousand dollars, five hundred and nine cents), his journey to the correctional facility began. He was found guilty after a thorough trial.
