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Michael Osagogie, Bags One Year Jail Term For N11.4bn Fraud

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EFCC, Lagos Zonal office, on Thursday, May 24, 2018, arraigned one Michael Obasuyi Osasogie alongside his firms-Platinum Multi-Purpose Co-operative Society, SmartMicro Systems Limited and Platinum Smart Cruise Motors Limited- before Justice Justice Mojisola Dada of the Special Offences Court sitting in Ikeja on a 14-count charge bordering on stealing to the tune of over eleven billion naira (N11, 498, 944, 038.29), an offence which is contrary to Section 285 (1) of the Criminal Law of Lagos State, 2011.

Delivering her judgment, Justice Dada sentenced the defendant to one year imprisonment and ordered the forfeiture of defendant’s 116 buses, 20 properties and monies in various accounts to First Bank Plc.

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