The Economic and Financial Crimes Commission, EFCC, has secured the conviction of one Balogun Olaitan and his company, Disok International Limited, before Justice M.T.M. Aliyu of the Kaduna High Court.

The convicts were docked on a six-count charge of obtaining money under false pretence to the tune of N12m (Twelve Million Naira), which is contrary to section 1(1) (a) and punishable under section1( 3)of the Advanced Fee Fraud and Other Fraud Related Offences Act, 2006.

Until his arrest and prosecution by the EFCC, Olaitan, who operated a ‘wonder bank,’ had specialised in collecting money from unsuspecting victims, with promises of attractive return on their investments,

However, when he defaulted in making the payments promised, the victims petitioned the EFCC.

Delivering judgment on Monday, October 5, Justice Aliyu convicted the accused persons on counts 1, 2, 3, 4 and 6, but discharged them on count 5.

He sentenced the first accused person, Olaitan, to eight years imprisonment, on each of the counts but the sentences will run concurrently.

The second accused, Disko International Limited, was fined N50, 000 (Fifty Thousand Naira) on each count.

•Photo shows Justice Scale