The High Court has denied bail pending appeal for two Nigerian nationals and a Zambian national, both convicted on charges related to financial crimes.
Adeyinka Adesola Olaoluwa and Margaret Oluwagbemisola were sentenced to two years for possession of property reasonably suspected to be proceeds of crime under Section 71(1) of the Forfeiture of Proceeds of Crime Act.
The Subordinate court heard that between March 11, 2021, and June 10, 2022, they held K 67 million in local accounts, with investigations revealing a complex network of transactions involving foreign currency deposits, rapid transfers, and shell companies with no legitimate business activities.
Their initial bail application was denied by the Magistrate’s Court, citing a lack of exceptional circumstances and a flight risk due to their foreign nationality.
They renewed their application before the High Court, Economic and Financial Crimes Division, arguing that they had consistently attended proceedings while on bond and that their appeal had strong prospects of success.
They also contended that their two-year sentence was short and that they would have served a significant portion by the time the appeal was heard.
However, the court ruled that the likelihood of their appeal succeeding was slim and found no exceptional circumstances to justify bail.
Lewis Chisenga, convicted of theft by agent and money laundering, was sentenced to five years imprisonment.
His application for bail pending appeal was previously dismissed by the lower court, leading him to seek relief from the High Court.
Chisenga argued that his appeal hhad a high chance of success and that prolonged appeal proceedings would render his sentence an academic exercise.
He also offered to provide a fixed address and sureties to secure his court attendance.
The State opposed the application, stating that modern appeal processes are expedited, reducing the likelihood of serving a substantial sentence before an appeal is heard.
The court ruled that Chisenga’s appeal had little chance of success and that he failed to demonstrate exceptional circumstances.
Both bail applications were dismissed.
