Segun Akanni, Toronto, Canada 
Justice Chukwujekwu Aneke of the Federal High court sitting in Lagos, today November 1, 2019 remanded the Managing Director of 606 Autos Limited, Sarumi Samusideen Babafemi in Ikoyi Prison.
Babafemi was arraigned by the Economic and Financial Crimes Commission, EFCC alongside three of his companies; 606 Autos Limited, 606 Music Limited and Splash Off Entertainment Limited, on a five count charge bordering on money laundering and conspiracy to the tune of N207.1m.
The defendant pleaded not guilty when the charge was read to him.
One of the count reads, “that you SARUMI SAMUSIDEEN BABAFEMI (a.k.a 606), being the Managing Director and Chief Executive Officer of 606 Autos Limited, 606 Music Limited, and Splash Off Entertainment Limited sometimes between 2013 to 2018 in Lagos within the Jurisdiction of this Honourable Court transferred the sum of N37,600,000.00( Thirty Seven Million, Six Hundred Thousand Naira) to one Omojodesola Shittu Allison which you reasonably ought to have known that such fund forms part of the proceeds of an unlawful act to wit: obtaining money by false pretence contrary to Section 15(2)(b) of the Money Laundering (Prohibition) Act 2011(As Amended) and punishable under Section 15(3) of the Act.
Another count reads, “that you, SARUMI SAMUSIDEEN BABAFEMI (a.k.a 606), being the Managing Director and Chief Executive Officer of 606 Autos Limited, 606 Music Limited and Splash Off Entertainment Limited sometimes between 2015 to 2018 in Lagos within the Jurisdiction of this Honourable Court transferred the sum of N93,000 000.00 (Ninety three Million Naira) to one Olanrewaju Ibrahim Oriyomi which you reasonably ought to have known that such fund forms part of an unlawful act to wit: obtaining money by false pretence contrary to Section 15(2)(b) of the Money Laundering (Prohibition) Act 2011”.
The prosecution counsel, Anselem Ozioko urged the court to remand the defendant in the prison custody pending the commencement of trial.
The defence counsel, Muiz Banire SAN however informed the court that he has filed an application for bail which has been served on the prosecution. He prayed the court to admit the defendant to bail on the most liberal terms as the offence for which the defendant was charged is a bailable offence.
Ozioko opposed the application and urged the court to refuse it based on the antecedents of the defendant.
He also informed the judge that the defendant has a charge pending before another court adding that this case came to be as a result of an intelligence received from theU.S Federal Bureau of Investigation, FBI, against him and other accomplices that are still on the run.
Justice Aneke adjourned ruling on the bail application to November 4, 2019 and remanded the defendant in prison
