The Managing Director of Ontario Oil and Gas Ltd,Mrs Ugo-Ngali was on Thursday sent to jail for 10 years for defrauding the Federal Government of N754 million in oil subsidy transactions.
Justice Lateefa Okunnu of an Ikeja High Court handed down the verdict, the first conviction since the massive oil subsidy fraud trial allegedly perpetrated by oil marketers began in 2012.
Her Co-defendant Wagbatsoma, who is also the Chairman of Ontario Oil and Gas Ltd, who was absent in court for the judgment also got 10 years in absentia.He is currently being held in the United Kingdom on charges relating to a £12 million National Health Insurance Scheme (NHIS) Trust fraud.
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