In a landmark decision, the Special Offences Court in Ikeja, Lagos State, has sentenced Kolawole Erinle, the Managing Director of Rinde-Remdex Nigeria Limited, to 12 years in prison for defrauding the United States-based Kansas City University of Medicine and Biosciences (KCUMB) of approximately $1.4 million.
Justice R.A Oshodi delivered the judgment on a three-count charge, including conspiracy, retention of proceeds of criminal conduct, and obtaining money under false pretense. Erinle was found guilty alongside Edward Dada, who is still at large.
The charges detailed that Erinle and Dada, in 2019, falsely represented themselves as J.E. Dunn, a local construction company in America, with the intent to gain a monetary advantage of $1,410,000. The duo created a fake domain name, jedunn.org, to execute the fraudulent act. Additionally, they were accused of retaining control of the fraudulently obtained funds in Erinle’s Access Bank account.
During the trial, the prosecution, led by T.J. Banjo, presented evidence indicating Erinle’s prior conviction in the United States for bank fraud. Despite initially pleading “not guilty,” Erinle admitted to his past conviction, expressing remorse and a willingness to pay restitution to the victim.
Justice Oshodi, in the judgment, highlighted that Erinle “spoofed the email address of the financial controller of J.E. Dunn” and orchestrated the fraudulent wire transfer to his controlled accounts. The judge emphasized that Erinle had not changed his criminal behavior despite a previous 23-month prison term in the US.
Erinle was sentenced to five years on count two and 12 years on count three, with the sentences running concurrently from February 10, 2023, the date of his remand.
The court fined Rinde-Remdex Nigeria Limited N50 million and ordered its winding up by the Corporate Affairs Commission (CAC), with the proceeds forfeited to the Federal Government of Nigeria. The company and Erinle were also directed to make restitution to the victim.
Furthermore, Justice Oshodi ordered the sale of all properties and vehicles recovered from the convicts by the EFCC, with the proceeds applied as restitution to the victim through the FBI. The funds recovered by the EFCC were specified to be applied as restitution by the FBI, without prejudice for the prosecution and the victim to secure full restitution.
