N10.9bn Fraud: Court Sentences Finbank MD, Two Others To 3 Years Imprisonment

A Lagos State High Court presided over by Justice Lateefa A. Okunnu on Tuesday convicted and sentenced Okey Nwosu, a former Managing Director, Finbank Plc and two others to different jail terms after being found guilty of N10bn fraud.

The prosecution counsel, Rotimi Jacobs , SAN, In the course of the trial called witnesses and also tendered several documents that were admitted in evidence against the defendants in court.

The defendants, Okey Nwosu alongside Dayo Famuroti, Agnes Ebubedike and Danjuma Ocholi who perpetrated the fraud while carrying out their official assignments in the bank, pleaded not guilty to the charge preferred against them.

It could be recalled that the Economic and Financial Crimes Commission, EFCC, had arraigned Nwosu alongside Dayo Famuroti, Agnes Ebubedike and Danjuma Ocholi on a 26-count charge bordering on stealing and illegal conversion to the tune of over N10bn.

Delivering judgment based on the available evidence, the presiding Judge found the defendants guilty and sentenced the first and second defendants, Nwosu and Famoroti, to three years imprisonment each and also sentenced the third defendant, Ocholi, to 12 months imprisonment and slammed a six- month community service on the fourth defendant, Ebubedike.