A Kaduna High Court has sentenced one Balogun Olaitan and his company, Disok International Limited, to eight years in prison for defrauding people to the tune of N12 million.

Justice M.T.M. Aliyu of the Kaduna High Court convicted Olaitan who was caught by the Economic and Financial Crimes Commission, EFCC.

Olaitan and his accomplice was docked on a six-count charge for allegedly swindling people under false pretence, contrary to Section 1 (1) (a) and punishable under Section  1 (3) of the Advanced Fee Fraud and Other Fraud Related Offences Act, 2006.

According to the EFCC, Olaitan, who operated a wonder bank, specialized in collecting money from unsuspecting victims with promises of attractive returns on their investments but the convict failed to fulfil the payments promised, hence the victims petitioned the EFCC.

Delivering his judgment, Justice Aliyu convicted the accused persons on counts 1, 2, 3, 4 and 6, but discharged them on count 5.

He handed the first accused person, Olaitan, eight years imprisonment on each of the counts but the sentences will run concurrently while the second accused, Disok International Limited, was fined N50,000 on each count.