Banker, BDC Operators Jailed for Defective Loans, Frauds

Banker, BDC Operators Jailed for Defective Loans, Frauds

Banker Jailed 18 Years for Fraud
A former Relationship Manager with Guaranty Trust Bank Plc, GTB in Enugu, Onyekachi Nwosu was on Thursday, February 27, 2020 convicted and sentenced to Eighteen (18) years imprisonment by Justice D.V. Agishi of Federal High Court, Enugu on a six (6) amended count charge bothering on forgery, altering and giving a loan with defective collateral brought against him by the Enugu Zonal office of the Economic and Financial Crimes Commission, EFCC.

Justice Agishi, in her judgement, ruled that the prosecution team led by Mashal Umukoro Onome Esq. proved their case beyond reasonable doubt and that the convict had failed to extricate himself from the self evidenced proofs before the court.

EFCC, in the course of trial, called eight witnesses and tendered several exhibits to prove their case.
The convict was found guilty on all six count charge and sentenced accordingly. On count one and two, he was sentenced to five; while he is to serve two years each on counts three, four, five and six. The cumulative eighteen years prison terms will, however, run concurrently.

Investigation by EFCC revealed several professional misconduct by Nwosu who took undue advantage of his position as a Senior Bank Supervisor and account officer to forge a document titled LETTER of SET-OFF which he used to illegally grant a loan of N34,900,000 (Thirty Four Million,Nine Hundred Thousand Naira) to a customer and his company from several fixed deposits of other customers without their knowledge nor consent.

He was also discovered to have altered several account documents of his friend whom he illegally granted loan as to enhance his Visa application to United Kingdom.

Tony Orilade
Acting head, Media & Publicity
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BDC Operator Jailed over N20.6m Fraud
Justice I.B Gafai of the Federal High Court sitting in Awka, Anambra State today, February 27, 2020 sentenced a Bureau De Change Operator, Isa Abdukarim, who was prosecuted by the Economic and Financial Crimes Commission, EFCC, to six months imprisonment. He was prosecuted on a four count charge over N20,650,000.00 (Twenty Million, Six Hundred and Fifty Thousand Naira) fraud.

In the course of trial, prosecution counsel, Michael Ikechukwu Ani called six witnesses and tendered various exhibits before the court to prove his case beyond reasonable doubt.

Justice Gafai, after reviewing the evidence against Abdukarim on February 26, 2020, found him guilty of all the charges against him and convicted him under Section 344 of the Criminal Code, LFN, 2004.

The Judge, while sentencing him to six months imprisonment for being reckless in the handling of the complainant’s money today further ordered the convict to restitute all the monies to the victim in line with Section 321 (a) of the Administration of the Criminal Justice Act, 2015 and Section 11 (1) (a) of the Advance Fee Fraud and other Fraud Related Offences Act, 2006 .

EFCC was also ordered to identify, trace, attach all monies and properties of the convict whether movable or immovable, sell and pay the proceeds to the victim.

Abdulkarim’s journey to Correctional Centre started between 7th and 8th of November, 2017 when he obtained aggregate sum of N20,650,000.00 from the victim under false pretence that he was to sell to the victim, Thirty Five Million Cameroonian CFA which he never did.

Tony Orilade
Acting head, Media & Publicity