For Judith Okoli, the promise of a thriving poultry investment was nothing more than a carefully laid trap.
On Tuesday, that trap finally snapped shut on her fraudsters as Justice Rahman Oshodi of the Special Offences Court sentenced Obiesie Elyon Chukwugene and Afolabi Adebayo Olumuyiwa to one year in prison for a N36,570,000 theft.
The courtroom heard a harrowing account of how the duo, operating under the guise of D Velvetbox Agro Farm Limited and Triple J Farm, lured Okoli into a web of deceit. Rather than building a farming empire, the defendants were running a desperate “robbing Peter to pay Paul” scheme, using Okoli’s hard-earned millions to pacify other disgruntled investors they already owed.
“The defendants dishonestly converted the aggregate sum belonging to Judith Okoli by representing to her that the money was for investments into poultry farming, whereas they used the money to settle debts to other investors,” the court heard during the reading of the charges.
While the men initially maintained their innocence with a “not guilty” plea in late 2024, the mounting evidence presented by EFCC counsel A. M. Dambuwa eventually forced a change of heart. Facing a trail of documents and witness testimonies, the defendants opted to plead guilty to an amended two-count charge.
Justice Oshodi was blunt in his assessment of the case, stating, “I find the defendants guilty on the amended information, and I convict them accordingly. This is the judgment of the court.”
The sentence, which took effect upon their initial remand in November 2024, included no option of a fine for the two men. However, the court did provide a path for the victim’s recovery.
Justice Oshodi ordered a joint restitution payment of N5,000,000 to be paid to Okoli within five months and directed that a Toyota Camry recovered from Chukwugene be forfeited and handed over to her immediately. Additionally, the firm involved, D Velvetbox Agro Farm Limited, was fined N1,000,000.
As the convicts were led away to serve the remainder of their time, the ruling stood as a sharp warning to “agro-investors” operating in the shadows: the law eventually catches up when the chickens come home to roost.
