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FORMER BANK MANAGER, EFE EGUBE BAGS 7YRS JAIL TERM FOR #50M FRAUD

Posted by on January 4, 2019>



The Economic and Financial Crimes Commission, EFCC, has secured the conviction and sentencing of 1 Efe Egube, a former Bank Manager, to seven years imprisonment sooner than Justice Atinuke Ipaye of the Lagos State High Court sitting in Ikeja, Lagos.
The convict, who was a Branch Manager of the defunct Oceanic Bank, was arraigned alongside his agency, Ocean Energy Trading and Services Limited, sometime in 2014 on a 19-count price bordering on buying money by false pretence to the tune of N50, 049,000.00, an offence reverse to Section 1(1) and (3) of the Advance Fee Fraud and Other
Related Offences Act No. 14 of 2006.
Egube’s journey to jail began after the Commission acquired a petition dated February 6, 2013 written by A.A. Malami, SAN & Co. on behalf of Sanusi Kamba, proprietor of Aminu Gandi Petroleum Limited.
The petitioner alleged that between 2007 and 2008, the defendant used his place as a Branch Manager to facilitate the granting of a credit score rating facility to the petitioner, which was disbursed in tranches.
The defendant was moreover talked about to have given the petitioner instruction to make funds into the accounts of some people and firms for the acquisition of petroleum merchandise to the tune of N50, 049,000.00.
However, the petroleum merchandise had been on no account geared up to the petitioner by the people and firms, thereby making it not potential for the petitioner to repay the mortgage when it grew to turn into due.
He pleaded not accountable to the price, thereby setting the stage for his trial.
In the course of the trial, the prosecution supplied six witnesses
and tendered quite a few paperwork that had been admitted in proof by the
courtroom in opposition to the defendant. The defendant, nonetheless, testified in his trial.
Delivering her judgment, Justice Ipaye convicted and sentenced Egube to seven years imprisonment on counts 3, 4, 5, 6, 7, 8, 9,10,11,12, 13 and 17.
The sentences are to run concurrently from the day of conviction.
Justice Ipaye moreover gave a restitution order in opposition to the convict and his agency “for the reimbursement forthwith of the complete amount obtained by false pretence.”

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