Court sends ex-FCMB manager to 121 years jail

Justice S. N. Odili of the Anambra State High Court, sitting in Onitsha, Anambra State, has convicted and sentenced Nwachukwu Placidus, a former manager with First City Monument Bank, FCMB, Onitsha branch, to 121 years in jail.

According to a statement issued by the anti-graft agency on Saturday, Placidus was sentenced to jail for diverting a customer’s fixed deposit funds worth N112,100,000 for personal use.

The Enugu Zonal Command of the Economic and Financial Crimes Commission, EFCC, charged him on Tuesday, March 27, 2018, with 16 counts of forgery, stealing, obtaining by false pretense, and uttering.

One of the counts reads: “Nwachukwu Placidus between February 2009 and November 2014 in Onitsha, Anambra State within the jurisdiction of the Anambra State High Court of Nigeria with intent to defraud obtained the sum of (N112,100,000) One Hundred and Twelve Million, One Hundred Thousand Naira only, from Idemili Microfinance Bank under the false pretence that you have placed the said money in a fixed deposit account with First City Monument Bank PLC for it, which pretence you knew to be false and you thereby committed an offence”.

He pleaded not guilty to the charges when they were read to him, thus setting the stage for his trial.

In the course of trial, the EFCC, through its counsel, Mainforce Ekwu presented four witnesses and tendered several relevant documents which were admitted in evidence.

In his judgment, Justice Odili 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.

The court further ordered the convict to restitute the said sum to his victim, Idemili Microfinance Bank.

Placidus ’journey to the Correctional Centre began when a petitioner , Idemili Microfinance Bank LTD, alleged that the sum of N112, 100, 000 was handed over to him as the branch manager of FCMB in Onitsha, for fixed deposit. However, when the petitioner approached the bank to terminate and withdraw the deposit, the bank denied receiving the said funds.

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.

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like