Court Jails Ex-banker 7years for N50m Fraud in Enugu

January 17, 2021
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A  former Guaranty Trust Bank staff, Onyekachi Nwosu  has been convicted and sentenced to 7 years imprisonment by a Federal High Court, Enugu, over Fifty Million Naira (50,000,000.00) fraud.

Justice R.O. Dugbo Oghoghorie found him guilty  of abusing his position and using forged documents to induce his bank to grant a N50,000,000 loan facility, part of which he diverted to personal use.

As account officer to Anyaso Chinedu, owner of Floxy Aluminium Odiofele Products Limited, Nwosu induced Guaranty Trust Bank with forged documents  into granting a loan of (N50,000,000.00) Fifty Million Naira to Floxy Aluminium Odiofele Products Limited.

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The documents;  “An application to Morgage, Consent to Morgage and Tripartite Legal Mortgage”,  deceived GTB into believing that one Mrs. Adebimpe Foluke pledged her property as collateral for the Fifty Million Naira loan granted to Floxy Aluminiun Product Ltd.

Further investigation, revealed that the convict benefitted N40, 000,000.00 (Forty Million Naira) out of the fraudulent loan by directly withdrawing it from the account of Floxy Aluminium Odiofele Products Limited.

Justice Oghoghorie ordered the convict to also restitute the sum of Forty Million Naira (N40 million) to GTB and, return the original Certificate of Occupancy to Mrs Foluke.

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