Two Nigerian fraudsters, Tobilola Ibrahim Bakare and Alimi Seun Sikiru, have been sentenced to three years imprisonment by Justice O. A. Taiwo of the Lagos State High Court, Ikeja, on Monday

Messrs Bakare and Sikiru, who obtained about $1 million from three foreign airlines through Business Email Compromise (BEC) fraud, pleaded ‘guilty’ to all charges leveled against them.

The Economic and Financial Crimes Commission (EFCC) while investigating a case of suspicious transactions and money laundering involving Kehinde Adelakun, a convicted internet fraudster, stumbled on an evidence linking Alvine International Resources Ventures, owned by Mr Sikiru, in September 2020.

Mr Sikiru admitted in court that the majority of the funds found in his account were from the first defendant, Mr Bakare, who acknowledged being into BEC between 2009 and 2020 and also hacking into the accounts of KLM, Turkish Airlines and British Airways.

Both of them were arraigned on a five-count amended charge bordering on conspiracy and retaining stolen property, an offence contrary to Sections 411 and 328 of the Criminal Law of Lagos State.

They were also charged with dishonest intent for retaining a four-bedroom detached duplex situated at Ologolo Jakande, Lekki, Lagos.

Several inflows suspected to be proceeds of unlawful activities were found in both the First Bank and Sterling Bank accounts of Mr Sikiru, the second defendant.

However, Justice Taiwo convicted and sentenced the first defendant, Mr Bakare, to three years imprisonment on counts 1, 2, 3, 4 and 5, with the option of a fine of N3 million, while Mr Sikiru was convicted and sentenced to three years imprisonment on counts 1 and 5 with an option of a fine of N1 million.

The Judge forfeited to the federal government, the five-bedroom duplex situated at Ibrahim Eletu Street, Osapa London, Lekki; four bedroom semi-detached duplex situated at Ologolo, Jakande, Lekki; and another four bedroom semi-detached duplex in Southern View Estate, Mayor Court, Chevron Alternative Road, Lekki, recovered from Mr Bakare.

He also held that N196,741,216 recovered from the Mr Sikiru’s company, Alvine International Resources Ventures account domiciled in Sterling Bank and N9,300,000 recovered from his account domiciled in Polaris Bank be forfeited to the federal government.

Two vehicles, a Mercedes Benz E500 and a Toyota Hilux 2020, recovered from Mr Bakare were also ordered forfeited to the federal government.