The Economic and Financial Crimes Commission (EFCC)Thursday arraigned the Managing Director and Chief Executive Officer of Sunsteel Industries Limited, Olalekan Adewoye before the Lagos State High Court.
Adewoye was arraigned alongside his companies, Sunlek Investments Limited and Sunsteel Industries Limited, on a two-count charge, bordering on stealing and obtaining property by false pretence to the tune of $680,622.65.
He pleaded “not guilty” to the charges when they were read to him, following which the prosecution counsel, Abdulhamid Tukur, applied for a trial date and asked that the defendant be remanded in a correctional centre.
However, the defence counsel, Olusegun Jolaawo SAN, informed the court of a pending bail application.
He prayed the court to admit the defendant to bail, stating that “has never jumped the administrative bail granted him by the EFCC.”
Justice Mojisola Dada ordered that the defendant should continue to enjoy the administrative bail earlier granted him by the EFCC.
The judge ordered that he should deposit his passport and documents of two landed properties with the court’s registry.
The judge adjourned the case till June 3 and 19, June 2025 for commencement of trial.