606Autos Boss, Babafemi Sarumi Remanded In Prison For Allegedly Laundering N207m

EFCC on Friday arrested an automobile dealer, Sarumi Babafemi, for money laundering.

Babafemi alongside his companies – 606 Autos Limited; 606 Music Limited; and Splash Off Entertainment Limited – was arraigned on five counts before the Federal High Court in Lagos.

The EFCC accused him of laundering a total of N207.1m between 2013 and 2018.

The EFCC said 6O6 “ought to have reasonably known that such funds form part of an unlawful act, to wit: obtaining money by false pretence”. .

Prosecuting counsel for the EFCC, Mr A.B.C. Ozioko, said 606 and his companies acted contrary to Section 15(2)(b) of the Money Laundering (Prohibition) Act 2011 (as amended) and were liable to be punished under Section 15(3) of the same Act.

But 606 and his companies pleaded not guilty when the charges were read to them.

The judge adjourned till November 4, 2019 to rule on the bail application. He ordered that 606 be remanded in the prison custody until then.

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