The Managing Director of Ontario Oil and Gas Ltd, Mrs Ada Ugo-Ngali has been sentenced to 10 years imprisonment for duping the Federal Government of N754 million in oil subsidy transactions.
Vanguard reported that Mrs. Ugo-Ngali’s is the first conviction since the oil subsidy fraud trial allegedly carried out by oil marketers began in 2012.
The chairman of the company, Walter Wagbatsoma, who was absent during trial was also sentenced to 10 years imprisonment.
The judge, Justice Lateefa Okunnu said,
“For each of the counts of conspiracy to obtain money by false pretences, the defendants are sentenced to 10 years in prison.
“For each of the counts of obtaining money by false pretences, the defendants are sentenced 10 years in prison.
“For the count of conspiracy to commit forgery, the defendants are sentenced to seven years in prison, for the offence of forgery; the defendants are sentenced to eight years in prison.”
The judge explained that the total sentences passed were 69 years for each of the defendants, but the sentences would run simultaneously.
The judge also ordered that the company pay back the money it defrauded the Federal Government.
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