A Special Offences Court in Ikeja has convicted one Victor Ojomo, and his company, Vijorm Oil Nigeria Limited, for orchestrating a fraudulent scheme and defrauding a businessman of ₦47,645,000.
The Presiding Judge, Justice Rahman Oshodi delivered the judgment on Friday, convicting Ojomo on three counts: conspiracy to obtain money by false pretense, obtaining money by false pretense, and stealing and sentenced him to 14 years in prison.
In his judgment, Justice Oshodi stated, “You orchestrated an elaborate scheme to defraud the victim of ₦47,645,000 and showed no remorse throughout the proceedings.”
The judge highlighted the severe impact of Ojomo’s actions, noting, “The victim has been deprived of his funds for years, and the impact on his life cannot be overstated.”
The court also ordered a restitution of the sum of ₦47,645,000 to the victim.
Justice Oshodi further convicted Ojomo’s company and held that it would be wound up if it failed to pay the fines imposed against it, within 90 days.
Although Ojomo was a first-time offender, the judge emphasised that the gravity of his offences far outweighed any mitigating factor.
“Given the severity of the offences and the need for deterrence, I have decided to impose a sentence of 70% of the maximum prescribed sentences,” he said.
The court sentenced Ojomo to 14 years’ imprisonment for both the first and second counts, and two years and one month for the third count.
These sentences are to run concurrently, beginning from July 10, 2023, the date of his remand.
Justice Oshodi acknowledged that N2m had been recovered from MAO Petroleum and returned to the victim, but stressed, “This represents only a fraction of what was taken, leaving a balance of ₦47,645,000.”
The judge made a restitution order for the full amount under Section 11 of the Advance Fee Fraud Act, instructing that all funds in Exhibit F, in the name of Vijorm Oil Nigeria Limited, be applied towards restitution.
“The prosecution is to ensure full restitution is made, as per Section 11 of the Advance Fee Fraud Act,” he added.
The judge also offered Ojomo the possibility of a reduced sentence if he made full restitution. “If you make full restitution of ₦47,645,000 to the victim, your sentence will be reduced to seven years, which is 50% of your sentence.
“I urge you to reflect on your actions and use this time to reform yourself.”
Ojomo’s company, Vijorm Oil Nigeria Limited, was also convicted of fraud.
While the company, as a corporate entity, cannot be imprisoned, it was held accountable for its role in the scheme.
