An auto dealer, Olusegun Lawal, was sentenced to three years in prison by a Lagos State Special Offences Court in Ikeja on Thursday. He was found guilty of stealing N30 million from HSLM Trust & Associates Limited.
Justice Mojisola Dada gave the sentence after Lawal, who operates under the name Faveo Auto Solutions, admitted to an amended one-count charge of stealing. This charge was brought by the Economic and Financial Crimes Commission (EFCC).
The EFCC had first brought Lawal to court on Tuesday, 2026, with five counts that included stealing, obtaining by false pretence, and issuing bad cheques. He pleaded not guilty to these charges, which led the court to postpone the case until November 3, 2026, for trial.
During the hearing, EFCC lawyer, Umar Kyari, told the court that Lawal allegedly stole N30 million from HSLM Trust & Associates Limited in March 2020. The EFCC claimed that Lawal tricked the company into giving him the money by pretending it was for the purchase of a 2020 Mercedes-Benz G63 AMG vehicle. The agency stated that Lawal knew this information was false.
The EFCC said Lawal's actions breached Sections 278 and 285(1) of the Criminal Law of Lagos State, 2011. They also violated Sections 1(1) and 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act No. 14 of 2006, and Section 1(1)(b) of the Dishonoured Cheques (Offences) Act, Cap D11, Laws of the Federation of Nigeria, 2004.
When the case was heard again on Thursday, EFCC lawyer U.S. Kyari informed the court that there was an amended one-count charge against Lawal. This charge was for stealing, which also violated Sections 278 and 285(1) of the Criminal Law of Lagos State, 2011.
The charge stated that on or around March 3, 2020, in Lagos, Lawal fraudulently used N30 million that belonged to HSLM Trust & Associates Limited for himself. After the new charge was read, Lawal changed his plea from not guilty to guilty.
Following his guilty plea, the prosecution called Tanko Obed to present the facts of the case. Relevant documents were also submitted and accepted as evidence by the court.
Justice Dada found Lawal guilty and convicted him. The court sentenced him to three years in prison, with an option to pay a fine of N1.5 million, which must be settled within 30 days. The judge also ordered Lawal to return the full N30 million to HSLM Trust & Associates Limited.
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