Court Convicts Ex-Bank Manager Over $46,900 USD Fraud

A former bank manager, Fidelis Egueke, has been convicted and sentenced to six months imprisonment, by an Asaba, Delta State, Chief Magistrate’s court, for obtaining the sum of $46, 900, USD, by false pretence.

The court presided over by Chief Magistrate Callistus Isioma Moeteke, convicted and sentenced Egueke, after pronouncing him guilty of a count charge made against him by the police.

The prosecutor, Raphael Ogechi Eze of the State Criminal Investigation Department (SCID) Asaba Police Headquarters Delta State, had dragged Egueke, before the court in a charge numbered CMA/295c/2024.

During the trial of the case, the prosecutor told the court that the convicted bank manager fraudulently received the sum of $46, 900 USD, by using two Certificates of Occupancy (C of O) as collateral, knowing fully well that one of the land title does not belong to him.

The prosecutor further told the court that the convicted former manager of Zenith Bank Plc, Asaba branch, upon receiving the money and used it for his family needs, refused, failed and never paid back the money to the victim as promised.

He also told the court that one of the C of Os used as collaterals was fake.

He told the court that the illegal actions of the Ex-Bank manager contravened Section 419 of the Criminal Code Law, Cap C21, Vol.1 Laws of Delta State of Nigeria, 2006.

But the convicted banker, had denied the offence and pleaded not guilty to the charge.

Based on his not guilty plea, he was admitted to bail by the court.

Prior to his trail before the court, he was released on administrative bail to one AGBORO OGHENERO, the then General Manager of Asaba Delta State branch of KEYSTONE BANK, When he was invited and charged by the police.

The convicted banker in his defence, told the court that he paid back the money to the victim but failed to show evidence of payment to court.

In determining the charge against the convicted banker, Chief Magistrate Moeteke, held that the prosecution has successfully proved it’s case against the banker beyond reasonable doubt.

Chief Magistrate Moeteke consequently convicted the banker and sentenced him to six months imprisonment.

The Chief Magistrate however ordered the convicted bank manager to pay the sum of N350, 000, as fine option to the jail-term.

The court also ordered the convict to pay the sum of N30 million as restitution.

The charge against the convict reads: “That you Fidelis Egueke ‘m’ sometimes in the year 2016 at Asaba in the Asaba Magisterial district did obtained Credit facility in the sum of Forty-six thousand and Nine hundred Dollars ($46,900), Naira equivalent, Sixty Million Naira (N60, 000, 000.00) for Mrs. Blessing Equeke ‘f’ and Master Chukwubuikem Fidelis Equeke ‘m’ from one Chief (Dr.) Jude Ndudi by presenting to him Certificates of Occupancy No. DTSR 13,338 and DTSR 13425 of parcels of land as collateral for the credits, which you later dispose of the land covered by DTSR 13,338 after using it as a collateral for the credit facilities and the other land covered by DTSR 13425 does not also belong to you as at the time you used as collateral to obtain the credit facilities, a presentation you know to be false and thereby committed an offence punishable under Section 419 of the Criminal Code Law, Cap C21, Vol.1 Laws of Delta State of Nigeria, 2006.”

It will be recalling the convicted bank manager is also being tried before a Lagos Federal High Court, by the operatives of the Force Criminal Investigation Department (ForceCID) Annex Alagbon-Ikoyi Lagos.

He is being tried before Justice Alexander Oluseye Owoeye’s led court, on charges bordering on alleged conspiracy, forgery, obtaining money by false pretence and fraud of N179.498 million.