Fraud Rocks FCMB Bank As Manager Jailed For 121years Over N112m Fraud

Nwachukwu Placidus, a former bank manager at FCMB, Onitsha branch has been sentenced to 121 years in prison for embezzling N112 million from a customer’s fixed deposit account.

This comes after he diverted fixed deposit funds totaling N112,100,000 (One Hundred and Twelve Million, One Hundred Thousand Naira only) from a customer for his gain.

The judgment was delivered by Justice S. N. Odili of the Anambra State High Court in Onitsha, after Placidus was arraigned on Tuesday, March 27, 2018, by the Enugu Zonal Command of the Economic and Financial Crimes Commission, EFCC.

According to a statement by EFCC Spokesperson, Dele Oyewale, the Convict faced 16-count charges including forgery, theft, obtaining by false pretence, and uttering.

The statement detailed one of the counts as follows: “Between February 2009 and November 2014 in Onitsha, Anambra State, Nwachukwu Placidus fraudulently obtained N112,100,000 from Idemili Microfinance Bank by falsely claiming to have placed the money in a fixed deposit account with First City Monument Bank PLC, knowing well that this claim was false.”

Upon his plea of not guilty, the trial proceeded during which the EFCC, represented by counsel Mainforce Adaka Ekwu, presented four witnesses and submitted several relevant documents as evidence.

In the ruling, Justice Odili found the prosecution’s case to be solid and sentenced the convict to imprisonment: nine years on count 3, four years on count 4, and nine years each on counts 5 to 16, all to run concurrently. Placidus was acquitted on counts 1 and 2. He was also instructed to repay the embezzled sum to Idemili Microfinance Bank.

The journey to prison for Placidus commenced when a petitioner, Idemili Microfinance Bank LTD, alleged that as the FCMB branch manager in Onitsha, he received N112,100,000 for fixed deposit purposes. However, the bank denied receiving the funds when approached to withdraw them.