Yahoo Boy Lands In Jail, Loses N24.3M Cash, Three Exotic Cars
The Ilorin Zonal Command of the Economic and Financial Crimes Commission, EFCC, on Monday secured the conviction of Yusuf Olarewaju.
The 30-year-old native of Erin-Ile in Oyun Local Government Area of Kwara State was convicted for offences bordering on internet fraud.
Justice Adebayo Yusuf of the Kwara State High Court sitting in Ilorin found Olarewaju guilty of the one-count charge brought against him by the anti-graft agency.
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Consequently, the judge sentenced him to 6 months imprisonment with the option of a fine of N200,000.
The court also forfeited all the instruments used by the convict to perpetrate the crime, including the proceeds of the crime – a Mercedes Benz GLK 2010 model; a Toyota Camry 2013 model.
Others include a Toyota Corolla 2005 model, iPhone 14 Promax, and N24,364,860 (Twenty Four Million, Three Hundred and Sixty Four Thousand, Eight Hundred and Sixty Naira).
Olarewaju’s journey to jail started on October 23, 2022, when he was arrested following actionable intelligence about the activities of syndicates of fraudsters operating in Erin-Ile and its environs.
Investigation revealed that Olarewaju, while using a fraudulent email, posed as one Smith Katie, a white female from Missouri, USA, to strike relationships with one James Gibson (Jimmy) and Stephen Speer, both of whom he defrauded to the tune of $30,000 between 2021 and 2022.
The defendant not only confessed to the crime but also pleaded guilty when he was arraigned in court on November 11, 2022.
At the resumed sitting of the case on Monday, Justice Yusuf said he had carefully evaluated the facts and pronounced him guilty.
