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HomeNaija NewsEx-bank Manager Sentenced To 121 Years In Pr!son For N112 Million Frⱥud

Ex-bank Manager Sentenced To 121 Years In Pr!son For N112 Million Frⱥud

Nwachukwu Placidus, the ex-branch manager of First City Monument Bank (FCMB) in Onitsha, has been given a combined jail term totaling 121 years. This is due to his misappropriation of N112,1000 000 (One Hundred and Twelve Million One Hundred Thousand Nigerian Naira only), which were fixed deposit funds belonging to one customer; he diverted them for personal use.

In Onitsha, Anambra State High Court, Justice S. N. Odili delivered a verdict on Friday after Placidus was prosecuted by the Enugu Zonal Command of EFCC and arraigned on Tuesday 27th March 2018.

On Saturday, Dele Oyewale – the spokesperson for EFCC – announced in a statement that the Convict had been charged with 16 counts of offenses ranging from forgery to theft and deceit.

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Quoting the statement of the EFCC spoke person, “One of the counts reads: ‘Nwachukwu Placidus between February 2009 and November 2014 in Onitsha, Anambra State within the jurisdiction of the Anambra State High Court of Nigeria with intent to defraud obtained the sum of (N112,100,000) One Hundred and Twelve Million, One Hundred Thousand Naira only, from Idemili Microfinance Bank under the false pretence that you have placed the said money in a fixed deposit account with First City Monument Bank PLC for it, which pretence you knew to be false and you thereby committed an offence.

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“He pleaded not guilty to the charges when they were read to him, thus setting the stage for his trial.

“In the course of the trial, the EFCC, through its counsel, Mainforce Adaka Ekwu presented four witnesses and tendered several relevant documents which were admitted in evidence.

“In his judgment, Justice Odili held that “the prosecution proved its case beyond reasonable doubt” and sentenced the convict to nine years imprisonment on count 3, 4 years on count 4 and 9 years on counts 5 to 16 respectively. He was discharged on counts 1 and 2. The sentences shall run concurrently.

“The court further ordered the convict to restitute the said sum to his victim, Idemili Microfinance Bank.

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“Placidus ’journey to the Correctional Centre began when a petitioner , Idemili Microfinance Bank LTD, alleged that the sum of N112, 100, 000 was handed over to him as the branch manager of FCMB in Onitsha, for fixed deposit. However, when the petitioner approached the bank to terminate and withdraw the deposit, the bank denied receiving the said funds.

“Upon receipt of the petition, the EFCC swung into action and investigations revealed that the convict diverted the money for his own use and issued a fake fixed Deposit Certificate to the petitioner.” [CONTINUE READING HERE]

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