The Chief Executive Officer of IDID Nigeria Limited, Kenneth Amadi, has been jailed for 18 months over his involvement in N2.9bn fraud.
The Lagos businessman was sentenced by a Federal High Court sitting in the state on Monday.
The presiding judge, Justice Ambrose Lewis-Allagoa, while delivering his judgment, said he found the suspect guilty of counts four and five of the criminal charges made against him by the Federal Government of Nigeria, through the Office of the Attorney General of the Federation.
Justice Lewis-Allagoa also ordered that the convict’s company, IDID Nigeria Limited, should be liquidated with immediate effect, adding that Amadi’s sentence was without an option of fine.
NIGERIACRIME gathered that Amadi and his company, IDID Nigeria Limited, were arraigned before the court by the government after he defrauded Eunisell of the said sum while he was the Chief Operating Officer of the company.
One of the charges against the defendants include receiving and obtaining by false pretence, with intent to defraud, the sum of N2, 900,000,000 belonging to Eunisell Limited from A-Z Petroleum Ltd and Ammasco International Ltd; omitting and making full and true entry thereof in the books and accounts; suppression of data in respect of the financial transfer to Eunisell Limited; and converting the same amount without authority to create sufficient deposits to promote the credibility of his own company (IDID Nigeria Limited).