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Home News Crime

‘In whose best interest?’ Another bank manager remanded over fraud

Freelanews by Freelanews
December 1, 2020
in Crime
0
court jpg

The cases of bankers stealing depositors funds and diverting them for personal uses are on the increase which make pundits wonder in whose best interests are these commercial banks existing?

The Federal High Court in Lagos on Tuesday had remanded Asaba branch manager of one of the leading commercial banks in Nigeria, Fidelis Egueke, in prison, pending hearing and determination of his bail application.

Justice Austine Chuka Obiozor ordered that Egueke be kept in the custody of Force Criminal Investigation Department (Force CID) Alagbon, Ikoyi, Lagos.

The order followed Egueke’s plea of ‘not guilty’ to three counts of conspiracy and N179million fraud.

Prosecution counsel Morufu A. Animashaun, told the court that between May 14, 2010 and December 31, 2019, at No. 2 Balogun Close, Ikoyi, Lagos, the defendant and others on the run conspired to obtain the said sum from a firm, Global Select Investment Services Ltd, “by false pretence that he will help the firm sell some goods and remit money to its bank account.

Animashaun alleged that the defendant, upon selling the goods, diverted the proceeds to his personal account, but told Global Select Investment Services that most of the goods imported from the USA were inferior and of low demand.

The court heard that the alleged offences contravened Section 8(a) and 1(1)(3) of the Advanced Fee Fraud and other Fraud Related Offences Act of 2006 and punishable under Section 390(7) Criminal Code Act of 2004.

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