After serving three years and six months in prison, Olajide Kareem, better known as Seun Egbegebe, has been released.
On February 10, 2017, the Nollywood filmmaker and producer was remanded in custody for allegedly obtaining money through deception from no less than 40 Bureaus De Change, BDC, operators in various parts of Lagos.
He was charged with defrauding the BDC operators by claiming to have foreign currency to exchange for naira and vice versa.
Egbegebe was charged with a number of frauds totaling N39,098,100, $90,000, and £12,550.
Seun Egbegbe and a different person, named Oyekan Ayomide, were initially charged with 36 counts of alleged advance fee fraud on February 10, 2017, before Justice Oluremi Oguntoyinbo.
Lawal Kareem, Olalekan Yusuf, and Muyideen Shoyombo later joined the pair on a 49-count accusation.
On October 11, however, a Federal High Court in Ikoyi, Lagos, found Egbegbe guilty of just one of the 44 charges brought against him and freed him.
Justice Oluremi Oguntoyinbo declared that 43 of the 44 count charges were crumbled because of a lack of witnesses to substantiate their claims.
She also decried that the prosecuting team failed in the responsibility to produce evidence, to be backed with witnesses on Counts 4, 19, and 21.
The judge also said that police tampered with the money recovered from the suspects, Justice Oguntoyinbo also ruled that all the money recovered from Egbegbe as evidence should be returned to him.