By Imisioluwa Afunmiso
Justice Daniel Osiagor of the Federal High Court sitting in Ikoyi, Lagos, on Monday convicted and sentenced Taofeek Daniel Oriola to 9 years imprisonment for money laundering linked to fraudulent cryptocurrency transactions.
Oriola arraigned by the EFCC on a 3 count charge bordering on money laundering and concealment of proceeds of unlawful activities is charged on several counts with one of the charges alleged that the convict disguised the true ownership of a 2014 Range Rover Supercharged vehicle believed to have been acquired from proceeds of fraudulent cryptocurrency dealings.
According to reports another charge stated that he concealed the ownership of a 5 bedroom apartment with boys quarters located at Ibeju-Agbe in the Ibeju-Lekki area of Lagos State, also allegedly traced to proceeds of unlawful activities.
Although the defendant pleaded guilty to all charges following the plea, prosecution counsel, H.U. Kofarnaiza, reviewed the facts of the case and tendered exhibits before the court, which were admitted in as evidence.
Delivering judgment, Justice Osiagor sentenced Oriola to 3 years imprisonment on each count to run concurrently, with an option of N200k fine on each count.
However the court also ordered him to undertake 7 days of community service.
In addition, the judge ordered the forfeiture of several assets to the Federal Government, including the 2014 Range Rover, the 5 bedroom apartment, a parcel of land measuring 653.479 square metres located at Ibeju-Agbe, and an iPhone 16 recovered from the convict.