Sat. Dec 9th, 2023

Union Bank’s Official, Other Jailed for N116m Fraud

Union Bank’s Official, Other Jailed for N116m Fraud

Justice Mojisola Dada of of a Special Offences Court, Lagos State High Court, Ikeja, has convicted and sentenced an official of Union Bank Plc, Temitope Oluwasanmi to 23 years Imprisonment for fraud and stealing the sum of N116 million.

To be in prison with the bank official, is one Augustine Temitope, who was charged with Temitope and whom Justice Dada pronounced guilty as charged for conspiracy and fraudulent and false accounting.

The Lagos Zonal Office of the Economic and Financial Crimes Commission (EFCC) has secured the conviction of Temitope Oluwasanmi and Augustine Olayinka before Justice Mojisola Dada of a Special Offences Court, Lagos State High Court, Ikeja.

The Union Bank Official, Temitope and Augustine were brought before the court sometimes December 2017, by the Lagos Zone of the Economic and Financial Crimes Commission (EFCC) on a six count-charge of conspiracy, stealing and fraudulent diversion of the sum of N116 million, to which they pleaded “not guilty” prompting commencement of trial.

The Union Bank Official, Oluwasanmi, 
Oluwasanmi, was arrested by operatives of the EFCC in October 2017, following a petition from the bank that he fraudulently diverted the said N116 million to the accounts of three friends: Augustine Olayinka, Oginni Opeyemi and Ogbaro Oluwaseyi. Opeyemi and Oluwaseyi remained at large.

In the course of the trial, prosecuting counsel, Bilikisu Bala Buhari, called three witnesses and tendered several documents to prove the case against the Convicts.

Delivering judgement on the charges, March 5, 2021, Justice Dada found the first and second defendants guilty of count one bordering on conspiracy, and sentenced them to three years imprisonment. While the judge held that the Union Bank Official, was guilty of counts two, three and four and sentenced to 10 years imprisonment. He was also found guilty of count six bordering on retention of criminal proceeds and sentenced to three years imprisonment, while the second Convict, Augustine, was found guilty of count five bordering on fraudulent false accounting and sentenced to seven years imprisonment.

Justice Dada however ordered that the sentences are to run concurrently.