Three Bank Officials Docked Over Alleged N77 Million Fraud

Three Bank Officials Docked Over Alleged N77 Million Fraud

Three Bank Officials Docked Over Alleged N77 Million Fraud

Three bank officials have been arraigned before a Magistrate Court sitting in Sapele, Delta State, for allegedly obtaining the sum of N77 million from Multiple Credit Limited, a cooperative society, under pretence.

The accused are  Chinedu Njoku, Desi Austin and Tennyson Ikpi. They were alleged, alongside others, of conspiring among themselves in July 2012, to obtain money under false pretence, an offence that is contrary to Section 8 of Advance Fee Fraud Act, Cap A, Laws of the Federation, 1995.

While Chinedu was specifically charged for obtaining N27.3 million from Multiple Credit Limited under false pretence, Desi and Tennyson were accused of obtaining N3 million and N14.5 million respectively, from the cooperative society in like manner.

The trial magistrate, Mr. S. Nannah, adjourned further hearing in the matter till September 20.

In count 2, Njoku, aged 33, an officer with United Bank for Africa, main branch, Sapele, was accused of obtaining the sum of N27.36 million  under the pretence that he would invest it in a business, a representation he knew to be false, thereby committing an offence contrary to section 1(2) (3) of the Advance Fee Fraud Act, Cap Law of the Federation 1995.

In count 3, Austin, aged 43, Manager, UBA main branch Sapele, now at large, on the same date, time and place, obtained the sum of N37 million under the pretence that he would invest it in a business, a representation he knew to be false.

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