EFCC Arraigns Operator of Wonder Bank 4 years ago 1

The Economic and Financial Crimes Commission, EFCC, has arraigned one Eronini Iwunze before Justice G.U Umar of the Federal High Court, sitting in Umuahia, on a two count charge of obtaining money under false pretence and illegal operation of a financial institution. The accused person is the Managing Director of BRC Sure Access Limited, located at 136 Tenant Road (3rd Floor) Aba, Abia State. 

The accused person who pleaded not guilty to the two count charge was granted bail by the presiding Judge even when the prosecution counsel, Innocent Mbachie opposed the bail application on the grounds that the suspect could jump bail. The Judge granted the suspect bail in the sum of Two million naira only (N2, 000,000.00) with one surety in like sum. The surety, who must not be less that a grade level 17 officer in the civil service, will produce a certificate of occupancy of a landed property within Abia State.

Iwunze’s arraignment followed a petition by Mr. James Ogbuka who alleged  that he was lured into fixing two million naira (N2, 000,000.00) in his financial establishment (Supra) with a promise of 15% interest (which amounted to One Hundred and Forty Eight Thousand Naira) at the expiration of 180 days tenure.

Based on the agreement between the two, the petitioner on November 2, 2009, fixed the sum of two million naira in the name of his brother,  Ozuru Emmanuel Anyim.  But at the expiration of 180 days tenure, the accused person, Iwunze failed to live up to expectation. The suspect neither paid the initial capital nor the interest accrued; rather he further deceived the petitioner to roll the two million naira for another 180 days.  And since the expiration of the second 180 days tenure, all efforts by the petitioner to get back his money proved abortive. 

In the course of investigation, it was discovered that the nature of business operated by BRC Sure Access is at variance with the focus of the company registered with Corporate Affairs Commission which is to carry out the business of promoting and assisting in the incorporation of any company, rental and catering service.

It was discovered that BRC Sure Access Limited operated an illegal financial outfit. Also, the suspect used some of the investors’ funds to grant credit facilities to members of the public without their consent, resulting in payment default and indebtedness.

The case has been adjourned till July 12, 2012, for commencement of trial. Home Page

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