EFCC Arraigns Company MD For N12 million Fraud In Abuja

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The Economic and Financial Crimes Commission, EFCC, has arraigned the Managing Director of Saphire 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.

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