Court jails five over money laundering, illegal forex trading

The Federal High Court sitting successful Lagos has convicted and sentenced 1 Sunmonu Olasunkanmi Thaoban to 4 years’ imprisonment for wealth laundering.

The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission, EFCC, arraigned Sunmonu connected a two-count complaint bordering connected wealth laundering.

Meanwhile, the suspect pleaded blameworthy to some number charges.

After his blameworthy plea, the prosecution counsel, H. U. Kofarnaisa, reviewed the facts of the lawsuit and urged the tribunal to convict and condemnation him accordingly.

The pressing judge, Justice Akintayo Aluko recovered Sunmonu blameworthy and sentenced him to 4 years’ imprisonment, with an enactment of a N1.8 cardinal fine.

The tribunal besides ordered the forfeiture of the convict’s achromatic G-Wagon Jeep and mobile instrumentality to the Federal Government of Nigeria.

In a related development, the tribunal besides convicted and sentenced 4 Bureau de Change, BDC, operators to 12 months’ imprisonment each for engaging successful amerciable overseas speech transactions.

The convicts, Umar Muhammad Lamido, Yusuf Musa Yusuf, Abdulmuhimin Mahmud, and Muhammed Musa, were prosecuted by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC), Ikoyi, connected abstracted one-count charges bordering connected amerciable overseas speech operations.

The def...