Justice R. I Ahiakwo of the Rivers State High Court sitting in Port Harcourt yesterday convicted and sentenced the managing director of Topsam Nigeria Limited and MCmalay Integrated Services Limited, Mr. Emmanuel Ayoola to six (6) months imprisonment with an option of fine, for issuing two dud cheques to settle some financial obligations totaling N8,000,000.00k( Eight Million Naira only) to a micro finance bank.
The convict initially pleaded guilty to the charges pressed against him. However, midway into the trial, Ayoola instructed his counsel, D. Cole Esq to apply for a plea bargain, which was granted by the court. Consequent upon the plea bargain, he pleaded guilty and the court subsequently convicted and sentenced him to six months imprisonment with an option of fine. The court did not call for further restitution, as the defendant, prior to the plea bargain, had made full restitution of the total sum of Eight Million Naira (N8, 000,000.00).
Managing Director sentenced to six months imprisonment for issuing DUD cheques
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