An Abeokuta Magistrates’ Court sitting in Isabo on Friday sentenced a 35-year-old man, Olayede Fatai, to one year imprisonment for defrauding his company, Arolat Petroleum Nig, N1.6 million.
The Magistrate, Mrs Oriyomi Sofowora, held that the court found the accused guilty and sentenced him accordingly.
Sofowora, therefore, sentenced the accused to one year imprisonment with hard labour and without an option of fine.
Fatai was arraigned on a two-count charge of conspiracy and stealing, which he pleaded not guilty.
The Prosecutor, Insp. Sunday Eigbejiale, told the court that the convict committed the offence between March and December 2012 at Olorunda village, Ayetoro Road, Abeokuta.
Eigbegiale said the convict and others still at large conspired to commit felony with the intent to deprive the said company the ownership of the company.
He added that the convict and others still at large did fraudulently convert N1.6 million being the money realised from the sale of petroleum belonging to Arolat petroleum Nig. Ltd.
The prosecutor said the offence contravened sections 516 and 390 (a) of the Criminal Code of laws Ogun state.