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Union Bank Official Bags 23years Imprisonment For N116m Fraud -

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News

Union Bank Official Bags 23years Imprisonment For N116m Fraud

Union Bank Official Bags 23years Imprisonment For N116m Fraud

Union Bank Official Bags 23years Imprisonment For N116m Fraud

THECONSCIENCE reports that a Special Offences Court, in Ikeja, has convicted and sentenced an official of Union Bank Plc, Temitope Oluwasanmi to 23yrs Imprisonment for fraud and stealing the sum of N116 million.

The presiding judge, Justice Mojisola Dada pronounced the banker and his accomplices, Augustine Olayinka guilty as charged for conspiracy and fraudulent and false accounting.

The Economic and Financial Crimes Commission, EFCC, arraigned the Union Bank official, Temitope Oluwasanmi and Augustine Olayinka on a six count-charge of conspiracy, stealing and fraudulent diversion of the sum of N116 million, to which they pleaded “not guilty” prompting commencement of trial.

Read Also: Dangote General Manager Jailed Over $32,000 Fraud

The Union Bank Official, Temitope Oluwasanmi was arrested by the anti graft agency in October 2017, following a petition from the bank that he fraudulently diverted the said N116 million to the accounts of three friends: Augustine Olayinka, Oginni Opeyemi and Ogbaro Oluwaseyi. Opeyemi and Oluwaseyi remained at large.

In the course of the trial, prosecuting counsel, Bilikisu Bala Buhari, called three witnesses and tendered several documents to prove the case against the Convicts.

Read Also: Trial of Chief Mike Adenuga, Globacom: Court Sets Date

Delivering judgement, Justice Dada found the first and second defendants guilty of count one bordering on conspiracy, and sentenced them to three years imprisonment.

While the judge held that the Union Bank Official, was guilty of counts two, three and four and sentenced to 10 years imprisonment.

Union Bank Official Bags 23years Imprisonment For N116m Fraud

Read Also: Union Bank records best profit margin since 2015

He was also found guilty of count six bordering on retention of criminal proceeds and sentenced to three years imprisonment, while the second Convict, Augustine, was found guilty of count five bordering on fraudulent false accounting and sentenced to seven years imprisonment.

Justice Dada however ordered that the sentences are to run concurrently.

TheConscience

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