Again! Ex-Bank Manager Re-Arraigned Over Alleged N179m Fraud

 

A former bank manager, Fidelis Egueke, was Thursday, re-arraigned for the third time, before a Lagos Federal High Court, by the men of Force Criminal Investigation Department (Force CID) Alagbon-Ikoyi, Lagos, over alleged fraud of N179, 498 million.

He was today rearraigned on a 16 count-amended charge filed against him by the police.

Egueke, who last worked with Asaba, Delta State branch of Zenith Bank Plc, is being rearraigned for the third time, on the alleged financial fraud, before Justice Kehinde Ogundare, who is the third judge, to preside over the charge, due to the transfer of the two previous justices, namely: Justice (Prof) Chuka Obiozor and Justice Tijani Garuba Ringim, who are currently sitting in another jurisdiction of the court.

The former bank manager, was said to have resigned his appointment with the bank, after being queried on the alleged fraud and demarketing his bank.

He was first arraigned before Justice (Prof) Obiozor, sometimes in November, 2020, on previous two amended charges of three and 14 counts of conspiracy, fraud, unlawful conversion, obtaining by false pretence, and unauthorized withdrawal.

He was again rearraigned before Justice Ringim on August 7, 2022, on the same counts change, when Justice (Prof.) was transfered out of Lagos jurisdiction of the court.

But due to the transfer of Justice Ringim to another jurisdiction, his case file was taken over by Justice Ogundare.

At the resumed trial of the defendant, today, the prosecutor, Barrister Animashaun, informed the court of the third amended charge of 16 counts.

The defendant’s new counsel, Tunde Adekoye (SAN) did not opposed his re-arraignment, but urged the court to allow his client to continue with the previous bail terms granted his client by the previous judges.

Upon the counsel’s submission, Justice Kehinde Ogundare, ordered that the third amended charge be read to the defendant, for his plea to be taken.

The defendant, however pleaded not guilty to all the charges when the charges were read to him.

Following the his plea of not guilty, his counsel, Adeoye (SAN), urged the court to allow his client to continue with the bail terms earlier granted by the court. The submission which was not opposed by the prosecutor.

 

By the agreement of parties, Justice Ogundare, adjourned the matter to November 6 and 7, 2024, for commencement of defendant’s trial.

In the third amended charge, the police alleged that the former bank manager, conspired with others now at large and without any authorization, fraudulently removed the total sum of N174. 498 million, from a company account, domiciled in Guarantee Trust Bank Plc.

The police alleged that the defendant committed the offences between May 14, 2010 and December 31, 2019.

Precisely, the prosecution in the charge marked FHC/L/298c/2020, alleged that the defendant and others now at large, between May 19, 2010, at No. 2 Balogun Close, Ikoyi, Lagos, conspired among themselves and obtained by false pretence the sum of N350,000.00, from a company, under the pretence of opening an account with Guaranty Trust Bank Plc.

He was also alleged to have on December 10, 2018, obtained by false pretense the sum of N50 million, from the company, under the pretence of using same to finance a fish supply business.

The defendant was also alleged to have between May 14, 2010 to 31st December 13, 2019, without authorization, fraudulently converted the sum of N179 ,498 million, in the company’s account, domiciled in GTB Plc, to his personal use.

The offences according to the prosecutor, Barrister Morufu Animashaun, contravened Sections 8(a), 1(1)(c) of the Advance Fee Fraud and other Fraud Related Offences Act No. 14 of 2006 and punishable under Section 1(3) of the same Act. And section 383 (1) of the Criminal Code Act Laws of the Federation 2004 and punishable under Section 390 (1) of the same Criminal Code Act Laws of Federation 2004.