Ololade Adeyanju/
Justice Lateefa A. Okunnu of a Lagos High Court sitting in Ikeja, today, sentenced a former Managing Director of defunct Finbank Plc, Okey Nwosu, to three years imprisonment for over N10 billion fraud.
The Economic and Financial Crimes Commission (EFCC) had arraigned Nwosu alongside Dayo Famuroti, Agnes Ebubedike and Danjuma Ocholi on a 26-count amended charge bordering on stealing and illegal conversion to the tune of N10,934,704,402.
The defendants, who perpetrated the fraud while they were directors of the bank, pleaded not guilty to the charge preferred against them, thereby leading to their full trial.
In the course of the trial, the prosecution counsel, Rotimi Jacobs (SAN) called witnesses and also tendered several documents that were admitted in evidence against the defendants.
Delivering her judgment, the judge found the defendants guilty and sentenced the first and second defendants, Nwosu and Famoroti, to three years imprisonment each.
The judge also sentenced the third defendant, Ocholi, to 12 months imprisonment and slammed a six-month community service on the fourth defendant, Ebubedike.
The case had suffered a setback as the defendants challenged the jurisdiction of the trial court up to the Supreme Court.
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