A Lagos State High Court, Ikeja, presided over by Justice O.A Okunuga yesterday remanded an Agribusiness Chief Executive Officer named Oluwadahunsola Taiwo in prison over alleged fraud amounting to N11.2 million, reports BusinessToday NG.
The Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 2 arraigned Taiwo, along with his company, Green Eagles Agribusiness Solution Limited, before the court on a two-count charge bordering on obtaining money under false pretences.
According to court documents, the complainant, Adepoju Idowu, claimed to have invested various sums in several agricultural ventures promoted by the defendant between February and October 2020. These included a N1.5 million investment in a vegetable plantation in February 2020, with a promised 30 per cent return every three months, and a separate N1.06 million investment in a rice farm in April 2020, with a projected 40 per cent return every six months.
Idowu further stated that he committed N4.9 million into the Green Wealth Project (1 Year Tenor) on 30 October 2020, which was advertised with an annual 30 per cent return. He reportedly invested another N4.9 million in the Green Wealth Project (3 Year Tenor) under similar terms.
All transactions were said to have been made to Green Eagles Agribusiness Solution Limited via First Bank account number 2033169176. However, the petitioner alleged that the company failed to deliver the promised returns, and all efforts to reach Taiwo proved abortive.
One of the charges reads: “That you, Oluwadajunsola Taiwo, and Green Eagles Agribusiness Solution Limited, between February and October 2020, in Lagos, within the jurisdiction of this Honourable Court, dishonestly converted to your own use an aggregate sum of N11,260,000.00 (eleven million, two hundred and sixty thousand naira), property of Adepoju Idowu, thereby committing an offence of Stealing contrary to Section 285(1)(a) of the Criminal Law of Lagos State, 2011.”
