Lagos court sentences businessman to seven years over $247,390 fraud
Abdullateef Fowewe
Justice Mojisola Dada of the Lagos State Special Offences Court in Ikeja convicted and jailed businessman Kingsley Obasi for seven years on Thursday over a $247,390 fraud.
A statement from the Economic and Financial Crimes Commission (EFCC) revealed that Obasi and his company, Great King Parkson Industrial Company, were arraigned by the EFCC Lagos Zonal Directorate 1 on February 22, 2023.
The one-count charge of stealing violated Section 287(9)(b) of the Criminal Law of Lagos State, 2011.
“Lagos Court Jails Businessman Seven Years for $247,390 Fraud,” the EFCC statement stressed, confirming the sentencing on May 14, 2026.
