Why Idemili MFB Ex-MD, 2 Others Arraigned With Ex-FCMB Manager Sentenced To 121 Years Imprisonment For Tampering Client’s Savings – EFCC
It is no longer news that a State High Court in Anambra has sentenced the former Branch Manager of First City Monument Bank, FCMB, Nwachukwu Placidus to 121 years imprisonment for tampering with a client’s savings.
But EFCC in the course of their investigation, arrested and arraigned the complainer, Idemili Micro Finance Bank Managing Director, Nnewi Ohaegbunam Chinyere, the then Head of Internal Audit, Egbosi Chiemenam and also the then Head of Credit and Marketing, Nkeiru Okeke.
EFCC in the count charge prefered against the three former bankers of Idemili MFB, accused them of aiding Nwachukwu Placidus in committing the fraud as a result of their failure to carry out their duties in line with banking practices, principles and procedures.
The three former bankers were arraigned alongside with Nwachukwu Placidus on March 27, 2018 before a State High Court in Onitsha area of Anambra State and the court granted them bail with the sum of ₦1 million each with one surety who must be a civil servant of not less than salary grade level 14.
Nwachukwu Placidus who was first arraigned before a Federal High Court in Awka, the Anambra State capital with ten count charge on November 24, 2016, was later rearraigned alongside the three former bankers of Idemili MFB with expanded count charge of 12 before a State High Court in Onitsha on March 27, 2018.
The court decision on the three former bankers of Idemili MFB is yet to be ascertained but EFCC in a news release few days ago, announced that the court has sentenced Nwachukwu Placidus to 121 years imprisonment for tempering with Idemili MFB fixed deposit savings.
The EFCC news release reads in quote: “Justice S. N. Odili of the Anambra State High Court sitting in Onitsha, Anambra State, has convicted and sentenced a former manager with First City Monument Bank, FCMB, Onitsha branch, Nwachukwu Placidus, to a cumulative 121 years imprisonment for diverting fixed deposit funds of a customer to the tune of ₦112,100,000 (One Hundred and Twelve Million, One Hundred Thousand Naira only) for his personal use.
He was arraigned on Tuesday, March 27, 2018 on 16-count charges bordering on forgery, stealing, obtaining by false pretence and uttering, by the Enugu Zonal Command of the Economic and Financial Crimes Commission, EFCC.
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 (₦112,100,000) 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”.
He pleaded not guilty to the charges when they were read to him, thus setting the stage for his trial.
In the course of 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.
Placidus journey to the Correctional Centre began when a petitioner , Idemili Microfinance Bank Limited, alleged that the sum of ₦112, 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”.
EFCC had on March 27, 2018 also reported that; “the Enugu Zonal office of the Economic and Financial Crimes Commission, EFCC on Tuesday, March 27, 2018 arraigned four bankers on a twelve count charge of stealing, conversion and obtaining by false pretences to a sum of ₦129,000,000 (One Hundred and Twenty Nine Million Naira Only).
One of the four bankers who were arraigned before Justice Ike Agu of the State High Court, Onitsha, Anambra State were Nwachukwu Placidus, a former Manager of First City Monument Bank Limited, Onitsha Branch.
Three former bankers with Idemili Micro Finance Bank Limited were Nnewi Ohaegbunam Chinyere, Egbosi Chiemenam and Nkeiru Okeke. They were Managing Director, Internal Auditor, Head of Credit and Marketing respectively.
The first defendant, Nwachukwu Placidus according to petition recieved by the Commission, diverted funds received from Idemilli Micro Finance Bank meant to be placed as fixed deposit to his personal accounts.
Further investigation revealed that given his personal unfavourable involvement in the forex businesses, he diverted most of the monies meant for fixed deposits while claiming they were severally rolled over and had presented forged fixed deposit certificates to cover his tracks.
The co-defendants had at several periods and on different capacities as Managing Director, Internal Auditor, Head of Credit and Marketing respectively not only facilitated the said deposits but were found to have all negated official ethics of banking in handling the case by not fully adhering to known banking procedures.
Their non- compliance and unresponsive attitude epitomized by non availability of instruments pertaining to the transaction on the fixed deposits was seen by the petitioner as their being complicit in the fraud.
All the defendants pleaded not guilty to the charges. The prosecution counsel, Mainforce Adaka, said he was just served at the court premises with motion for bail applications for the accused persons by their counsels.
Counsel to the 1st accused, C.L Ndukaihe pleaded that his client be allowed to continue enjoying the bail earlier granted to him by the Federal High Court, Awka on a similar case while trying to perfect the incumbent bail if granted, a request that was rejected by the judge.
The Judge having listened to counsel to the other defendants, granted bail on different conditions to them as follows. The first defendant was to produce two sureties and the sum of Two Million Naira (₦2,000,000) in like sum with the sureties residing within the jurisdiction of the court.
He further directed that they must have landed properties and must deposit two copies of their recent passport photographs alongside that of the defendant.
The second, third and fourth defendants were respectively granted bail in the sum of One Million Naira (₦1,000,000) and one surety each who must be a civil servant of not less than grade level 14 and who must also reside within the jurisdiction of the court.
The case has been adjourned to June 14, July 16, October 15, November 7 and December 6, 2018 respectively for hearing”.
Earlier at the Federal High Court, EFCC also reported on November 25, 2016 that; “the Economic and Financial Crimes Commission, EFCC, on Thursday November 24, 2016, arraigned one Nwachukwu Placidus on a ten count charge that bothers on Fraud and Falsification of First City Monument Bank Certificate of Investment, before Honourable Justice I.B Gafai of the Federal High Court, Awka in Anambra State.
When the charge was read to the accused person, he pleaded not guilty to the ten count charge preferred against him by the EFCC.
In view of his plea, the defense counsel Barrister D. M. Ezeani immediately prayed the court to grant the accused bail. But the prosecuting counsel, Barrister S. M. H. Ibekwute (Esquire) vehemently opposed the bail application, and hinged his argument on the fact that the accused person already has a police record hanging on his neck, and as such might become elusive and stall his trial.
After listening to both counsels, the court however, granted the defendant bail in 2 sureties which must not be below grade level 14 in the civil service and must be verified by both the Head of Service and the Court Registrar. The case was then adjourned to January 25, 2017, for commencement of trial”.
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