The Economic and Financial Crimes Commission, EFCC, has arraigned the Managing Director of Sapphire Scents Limited, Adewale Aladejana, before Justice M. A Madugu of the Federal High Court sitting in Bwari, Abuja, for obtaining money under false pretence to the tune of N12,000,000( Twelve Million Naira only).

He was arraigned on Tuesday, October 4, 2022 on three- count charges bordering on misappropriation and obtaining under false pretence.

Specifically, he allegedly collected the sum of N12 million from potential investors in his company, with a promise of turnover in six months, without offering any profit or returning the invested funds to his investors.

Count one reads:

“That you Adewale Aladejana being the Managing Director of Sapphire Scents Limited and you Saphire Scents Limited in Abuja within the Jurisdiction of this Honorable Court on or about the 16th day of September 2019 being entrusted with the sum of Four Million Naira (N4,000.000) by one Anaetoh Obianuju for investment in Saphire Scents Limited dishonestly misappropriated same and thereby committed an offence contrary to Section 311 of the Penal Code Act, Cap 532 LFN (Abuja ) 1990 and punishable under Section 312 of the same Act”

Count two reads:

“That you Adewale Aladejana being the Managing Director of Saphire Consult and you Saphire Scents Limited in Abuja within the jurisdiction of this Honorable Court on or about the 9th day of April 2019 being entrusted with the sum of Four Million Naira (N4,000,000) by one patience Idu Ipenyi for investment in Saphire Scents Limited dishonestly misappropriated same and thereby committed an offence contrary to Section 311 at the Penal Code Act, Cap 532 LFN (Abuja ) 1990 and punishable under Section 312 of the same Act.

Aladejana pleaded not guilty to all the charges when they were read to him.

In view of his plea, prosecuting counsel, S. A Ugwuegbulam prayed the court to give a trial date to enable him prove the case.

However, defence counsel, Eyitayo Fatogun in a bail application, sought for the bail of his client, pending the hearing and determination of the case.