Justice S. S. Ogunsanya of the Lagos State High Court in Ikeja, on Monday, convicted Raymond Akanolu, a former General Manager, Dangote Industries Limited, Mojisola Aladejobi and Balogun Omololu Alaba.
The Economic and Financial Crimes Commission (EFCC) charged them with conspiracy and obtaining money by false pretense.
The trio, in October 2014, conspired to defraud Dangote Industries Limited of the sum of $32,000, according to the EFCC.
They inflated the premium for the renewal of insurance policy cover for a Hawker Aircraft with registration No. 5N-DGN.
The offence is contrary to section 323 of the Criminal Law of Lagos State, No. 11 of 2011.
Akanolu, Aladejobi and Alaba pleaded “not guilty” to the charges.
Babatunde Sonoiki and S. O. Daji, the prosecutors, called witnesses and tendered documents that were admitted in evidence by the court.
Justice Ogunsanya, in his judgment, found the defendants guilty of the offence.
The judge sentenced them to seven years imprisonment each on both counts of the charge.