The  Ibadan Zonal Office of the Economic and Financial Crimes Commission secured the conviction on Monday, January 8, 2018.

Justice David Oladimeji of the court found Ojo guilty of two of the three counts amended information filed against him by the EFCC.

Justice Oladimeji held that Ojo will serve the three-year jail term on each of the two counts concurrently.

The court discharged him on count three bordering on offences of money laundering.

One of the charges that earned him a jail term reads, "that you, Chief Rufus Woleola Ojo, (carrying on business under the name and style of Rulekal Ventures) and others at large sometimes in December 2006 at the Orolu Local Government Area within the jurisdiction of this honourable court, with intent to defraud fraudulently converted to your own use the sum of N22,058,021.30k  property of Orolu Local Government Area of Osun State entrusted to you whilst you were its executive chairman."

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Ojo was first arraigned before Justice F.E. Owolabi of the Osun State High Court on Tuesday, May 28, 2013 on three count charges bordering on stealing, using position for personal gratification and money laundering.