Olajide Kareem, aka Seun Egbegbe, a Nollywood film-maker and producer, has been granted his parole after serving three years and six months in prison.
Seun Egbegbe, an ex-lover of Nollywood actress Toyin Abraham, was imprisoned on February 10, 2017, for acquiring money by deception from no less than 40 bureaus de change operators in various sections of Lagos between 2015 and 2017.
Egbegbe, the chairman of Ebony Production, allegedly defrauded the BDC operators by claiming to have naira to exchange for foreign currency and vice versa.
The filmmaker was accused of defrauding the BDC operators by claiming to have naira to exchange for foreign currencies and vice versa.
According to the Lagos State Police Command, he defrauded his victims of N39,098,100, $90,000, and £12,550.
In February 2017, the ex-boss of Ebony Production was arraigned alongside one Oyekan Ayomide before Justice Oluremi Oguntoyinbo on 36 charges of advance free fraud.
According to the prosecutor, Innocent Anyigor, Egbegbe and the other defendants violated Section 8 of the Advance Fee Fraud and Other Related Offences Act 2006 and are punishable under Section 1(3) of the same Act.
His charge sheet was later modified twice, with the count eventually reaching 40.
However, Egbegbe was released on October 11, 2022 after serving 68 months in prison.
After reviewing his case, Justice Oluremi Oguntoyinbo of the Federal High Court in Ikoyi found the director guilty of only one of the 44 counts against him.
According to the judge, 43 of the 44 cases were dismissed due to a lack of witnesses to back up their accusations.
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