Court remands bank manager for alleged N179.4m Fraud

A Federal High Court, Lagos Tuesday remanded till December 1st a
bank manager pending hearing and determination of his bail
application.

Justice Austine Chuka Obiozor ordered that the manager be kept
in the custody of Force Criminal Investigation Department (Force
CID) Alagbon, Ikoyi, Lagos.

The order followed his plea of ‘not guilty’ to three counts of
conspiracy and N179million fraud.

Prosecution counsel Morufu A. Animashaun, told the court that
between May 14, 2010 and December 31, 2019, at No. 2 Balogun Close,
Ikoyi, Lagos, the defendant and others on the run conspired to
obtain the said sum from a firm, Global Select Investment Services
Ltd, “by false pretence that he will help the firm sell some goods
and remit money to its bank account.”

Animashaun alleged that the defendant, upon selling the goods,
diverted the proceeds to his Zenith Bank Account Number 1020019782,
but told Global Select Investment Services that most of the goods,
imported from the USA were inferior and of low demand.

The court heard that the alleged offences contravened Section
8(a) and 1(1)(3) of the Advanced Fee Fraud and other Fraud Related
Offences Act of 2006 and punishable under Section 390 (7) Criminal
Code Act of 2004.

A Federal High Court, Lagos Tuesday remanded till December 1st a
bank manager pending hearing and determination of his bail
application.

Justice Austine Chuka Obiozor ordered that the manager be kept
in the custody of Force Criminal Investigation Department (Force
CID) Alagbon, Ikoyi, Lagos.

The order followed his plea of ‘not guilty’ to three counts of
conspiracy and N179million fraud.

Prosecution counsel Morufu A. Animashaun, told the court that
between May 14, 2010 and December 31, 2019, at No. 2 Balogun Close,
Ikoyi, Lagos, the defendant and others on the run conspired to
obtain the said sum from a firm, Global Select Investment Services
Ltd, “by false pretence that he will help the firm sell some goods
and remit money to its bank account.”

Animashaun alleged that the defendant, upon selling the goods,
diverted the proceeds to his Zenith Bank Account Number 1020019782,
but told Global Select Investment Services that most of the goods,
imported from the USA were inferior and of low demand.

The court heard that the alleged offences contravened Section
8(a) and 1(1)(3) of the Advanced Fee Fraud and other Fraud Related
Offences Act of 2006 and punishable under Section 390 (7) Criminal
Code Act of 2004.