A former Manager of First City Monument Bank (FCMB), Onitsha branch, Nwachukwu Placidus, has been sentenced to 121 years in prison for embezzling customer’s N112 million .
He was sentenced for embezzling N112 million from a customer’s fixed deposit account.
Justice S. Odili of the Anambra State High Court in Onitsha, Anambra State, sentenced the former FCMB’s bank manager, Placidus to a total of 121 years in prison for misappropriating fixed deposit funds totaling N112,100,000 from a customer for personal use.
Placidus was arraigned on Tuesday, March 27, 2018, on 16-count charges bordering on forgery, stealing, obtaining by false pretence, and uttering, by the Enugu Zonal Command of the Economic and Financial Crimes Commission, EFCC.
Recall, the convict was arrested following a petition by Idemili Microfinance Bank LTD to the Economic and Financial Crimes Commission (EFCC).
The management of the Microfinance bank said the sum of N112 million was handed over to the convict as the branch manager of FCMB in Onitsha for a fixed deposit.
However, the petitioner said when the FCMB was approached to terminate and withdraw the deposit, the bank denied receiving the said funds.
Dele Oyewale, spokesperson for the EFCC, said in a statement, “Upon receipt of the petition, the EFCC swung into action, and investigations revealed that the convict diverted the money for his own use and issued a fake fixed Deposit Certificate to the petitioner.”
Meanwhile, the convict had earlier pleaded not guilty to the charges.
Justice S. N. Odili of the Anambra State High Court sitting in Onitsha, Anambra State, while delivering his judgment, held that “the prosecution proved its case beyond reasonable doubt” and sentenced the convict to nine years imprisonment on count 3, 4 years on count 4, and 9 years on counts 5 to 16, respectively. He was discharged on counts 1 and 2. The sentences shall run concurrently.
Justice Odili further ordered the convict to return the money to his victim, Idemili Microfinance Bank.
