Director To Spend 5 Years In Jail For N128m Fraud
Justice O. J. Enobie of the FCT High Court, sitting in Jabi, Abuja has convicted and sentenced the director of Asher Trust Investment Limited and Fifteen Network Limited, Daniel Ungbo Silas to five years imprisonment for fraud.
Silas and his companies were prosecuted by the Economic and Financial Crimes Commission, EFCC on two-count charges, bordering on criminal breach of trust and dishonest conversion of property to the tune of N128 million (One Hundred and Twenty-eight Million Naira).
Count one of his charge reads: “That you Daniel Ungbo Silas, being the Director of Fifteen Network Limited, sometime between the fifth day of October, 2016 in Abuja, within the jurisdiction of the Federal Capital Territory, while being entrusted with certain property to wit: the sum of N88,000,000 ( Eighty-eight Million Naira) paid into Fifteen Network Limited’s Bank Account by Mohammed Awwal Musa for the purchase of United States Dollars, committed criminal breach of trust in respect of the said property when you dishonestly converted the said sum to your own use, thereby committed an offence contrary to Section 311 of the Penal Code Act Cap 532 Laws of the Federation of Nigeria, (Abuja) 2024 and punishable under Section 312 of the same Act.”
In addition to his sentence, the convict is to refund the sum of N128 million (One Hundred and Twenty-eight Million Naira), being the proceeds of his crime within 30 days.
Silas bagged his imprisonment when the dishonestly converted the sum of N128million which was meant to be changed to United States Dollars for his own use. He neither returned the money nor offered the dollar equivalent to his victim.
