Lagos Auto Dealer Bags 3 Years Jail Over N30m Car Deal Fraud

An Ikeja court has sent an auto dealer to prison for three years after he pleaded guilty to stealing N30 million from a client in a fake car deal.

Justice Mojisola Dada of the Lagos State Special Offences Court convicted Olusegun Lawal on Thursday. Lawal, who operates as Faveo Auto Solutions, was sentenced after changing his plea to guilty on an amended one-count charge of stealing filed by the EFCC.

The Economic and Financial Crimes Commission told the court that in March 2020, Lawal fraudulently converted N30m belonging to HSLM Trust & Associates Limited. He allegedly told the company the money was for a 2020 Mercedes-Benz G63 AMG, a claim the EFCC said he knew was false.

The case started on Tuesday with a five-count charge bordering on stealing, obtaining by false pretence and issuing dud cheques. Lawal had pleaded not guilty then, and trial was fixed for November 3, 2026.

But when the matter returned on Thursday, EFCC counsel U.S. Kyari said the prosecution had filed an amended charge under Sections 278 and 285(1) of the Criminal Law of Lagos State, 2011. After the charge was read, Lawal admitted guilt.

Prosecution witness Tanko Obed reviewed the facts and tendered documents which the court admitted as evidence.

In her judgment, Justice Dada found Lawal guilty and sentenced him to three years in prison, with an option of N1.5 million fine to be paid within 30 days. The judge also ordered him to refund the full N30 million to HSLM Trust & Associates Limited.