Businessman Adewale arraigned over N12million fr@ud

The Economic and Financial Crimes Commission (EFCC) has arraigned Abuja-based businessman, Adewale Aladejana, over alleged N12million fr@ud.

Adewale, who is the Managing Director of Sapphire Scents Limited, was arraigned on Tuesday, October 4, before Justice M. A Madugu of the Federal High Court sitting in Bwari, Abuja on three-count charges bordering on misappropriation and obtaining under false pretence.

EFCC in a statement on Friday said: “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.”