N708m Scam: Court Sends Two Managing Directors, Four Others to Prison for Cybercrime

The managing director of Damaste Royal Engineering Services Nigeria Limited and Locus Classicus Trade & Investment Limited respectively were on Tuesday, April 12, 2022 convicted and sentenced to five years imprisonment each by Justice Efe Ikponmwonba of the Edo State High Court sitting in Benin City.

The duo were arraigned on separate one count charges of fraud by the Benin Zonal Command of the EFCC. The defendants, as managing director and signatory to the Zenith bank accounts of Demaste Royal Engineering Services Limited and Locus Classicus Trade and Investment Limited, retained the aggregate sum of N657,350, 000.00 and N51,820,000.00 respectively; proceeds of Efe Martins Oserenwindamwens criminal conduct.

Specifically, Haruna being the managing director and signatory to the Zenith Bank account of Demaste Royal Engineering Services Limited sometimes between 2nd April to 25th May, 2020 in Edo State retained the aggregate sum of N 657,350,000.00 (Six Hundred and Fifty-seven Million, Three Hundred and Fifty Thousand Naira) knowing that same represent proceeds of Efe Martins Osarenwindamwen’s criminal conduct of cybercrime activity.

Haruna and Robert pleaded guilty to the charge preferred against them by the EFCC prompting the prosecution counsel, Francis, A, Jirbo to pray the court to convict and sentence them accordingly