LAGOS – A Lagos State High Court sitting in Ikeja, on Tuesday has convicted and sentenced Chief Okey Nwosu, a former Managing Director, Finbank Plc, to three years imprisonment for N10.9m fraud.
Justice Lateefat A. Okunnu who delivered the Judgement found the defendants guilty, sentenced the first and second defendants, Nwosu and Famoroti, to three years imprisonment each.
She also sentenced the third defendant, Ocholi, to 12 months imprisonment and slammed a six- month community service on the fourth defendant, Ebubedike.
It will 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 amended charge bordering on stealing and illegal conversion to the tune of N10,934,704,402.
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The Lagos State High Court sitting in Ikeja has convicted and sentenced a former Managing Director, Finbank Plc, Okey Nwosu, to three years imprisonment for over N10.9 billion fraud.
The Economic and Financial Crimes Commission (EFCC) had arraigned Mr Nwosu alongside Dayo Famuroti, Agnes Ebubedike and Danjuma Ocholi on a 26-count amended charge bordering on stealing and illegal conversion to the tune of N10,934,704,402.
The defendants, who perpetrated the fraud while they were directors of the bank, pleaded not guilty to the charge preferred against them, thereby leading to their full trial.
In the course of the trial, the prosecution counsel, Rotimi Jacobs, called witnesses and also tendered several documents that were admitted in evidence against the defendants.
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