Yahoo boy’ bagged 4 Years Jail term, Forfeits Car, Gold Ring, Diamond Necklace, Customized Pendant, Others To FG

The Federal High Court sitting in Lagos presided over by Justice Akintoye Aluko on Thursday convicted and sentenced a ‘yahoo boy’ Adeyemi Tomiwa Oluwaseun to four years imprisonment or a fine to the value of what he benefitted from his fraudulent activities.

Justice Aluko handed down the sentence sequel to the guilty plea of Adeyemi to one count charge pressed against him by the Economic and Financial Crimes Commission, EFCC.

According to the EFCC prosecutor R.A Abdulrasheed , the convict, Adeyemi Tomiwa Oluwaseun who studied Mass Communication at the Moshood Abiola Polytechnic, Abeokuta,Ogun State and now a Sales Manager at a popular mall in Ikeja, Lagos was said to have sometimes in 2019 in Lagos did indirectly disguise the origin of the sum of N8, 000,000.00 to purchase a white Lexus Rx350, a Gold ring, Apple Laptop and a customized pendant which sum he knew or reasonably ought to have known forms part of proceeds of unlawful act.
The offence committed according to the charge is contrary to Section 18(2) of the Money Laundering (Prevention and Prohibition, Etc.) Act, 2022 and punishable under Section 18(3) of the same Act.

Following his arraignment, Adeyemi pleaded guilty to the one count charge and the prosecutor consequently reviewed the facts of the charge

Several exhibits including the particulars of a white Lexus Rx350, Diamond necklace, Gold ring, Apple Laptop and a customized pendant, the prosecutor asked the court to convict the the defendant based on his guilty plea and evidence before the court.

Justice Aluko consequently convicted the defendant as charge.

Following the allocutus made by his counsel, who pleaded for mercy and leniency, Justice Aluko sentenced the convict to four year imprisonment or payment of a fine that is equal to the amount the convict benefitted from his illegal activities.

The charge against the convict reads: That you Adeyemi Tomiwa Oluwaseun sometimes in 2019 in Lagos, within the jurisdiction of the Honourable Court, did indirectly disguise the origin of the sum of N8, 000,000.00 (Eight Millon Naira}, to purchase a white Lexus Rx350, a Gold ring, Apple Laptop and customized pendant which sum you knew or reasonably ought to have known forms part of proceeds of unlawful act and you thereby committed an offence contrary to Section 18(2) of the Money Laundering (Prevention and Prohibition, Etc.) Act, 2022 and punishable under Section 18(3) of the same Act.