After spending over three years and six months in custody, Nollywood producer Olajide Kareem, aka Seun Egbegbe, has regained his freedom.
Okay.ng sourced that the filmmaker was imprisoned on February 10, 2017, for defrauding no less than 40 bureaus de change employees in various areas of Lagos between 2015 and 2017.
By pretending to have naira to exchange into foreign currency and vice versa, Egbegbe is accused of defrauding the BDC operators of money.
Police filed charges against him for a string of frauds totalling N39,098,100, $90,000, and £12,550.
On February 10, 2017, Egbegbe and another man named Oyekan Ayomide were initially charged with 36 counts of alleged advance fee fraud before Justice Oluremi Oguntoyinbo.
After two more amendments, the charge sheet eventually had 40 charges and three additional defendants, Lawal Kareem, Olalekan Yusuf, and Muyideen Shoyombo.
Egbegbe and the other defendants, according to the prosecuting attorney for the police, Innocent Anyigor, violated Section 8 of the Advance Fee Fraud and Other Related Offences Act 2006 and were subject to punishment under Section 1(3) of the same Act.
Egbegbe was released from prison yesterday, October 11, 2022.
Due to a lack of witnesses to back up their claims, 43 of the 44 Count charges were thrown out, according to Justice Oluremi Oguntoyinbo.
The prosecuting team failed to present evidence for Counts 4, 19, and 21 that was supported by witnesses, according to the judge.
Justice Oguntoyinbo decided that all the money taken from Egbegbe as evidence should be restored to him after the money taken from the suspects.
