The Nation Newspaper

Tag: SFU

  • Ex-bank MD bags 19 years for N29m fraud

    A Federal High Court in Lagos on Friday sentenced a former acting managing director of Century Microfinance Bank Limited, Olise Robinson, to 19 years imprisonment for stealing N29 million from the bank.

    Justice Okon Abang convicted Robinson of five counts of stealing, signature forgery, uttering of documents and criminal breach of trust.

    According to the Police Special Fraud Unit (SFU), Alagbon-Ikoyi, Lagos, Robinson committed the offences while acting as the bank’s head between June 2008 and November 2009.

    Prosecution counsel Chukwu Agwu said the offences contravened Sections 390(6), 463 and 468 of the Criminal Code 2008 and were punishable under Section 467 of the same Act.

    Robinson pleaded not guilty.

    During the trial, Agwu called four witnesses and tendered several exhibits.

    The defendant testified for himself.

    Convicting Robinson on Friday, Justice Abang noted that the defendant failed to give evidence that he didn’t receive the amount and provided no evidence to show that he invested the money in Central Bank of Nigeria (CBN) Treasure Bills.

    He said: “The prosecution has been able to sufficiently prove the essential ingredients of the allegations against the defendant.

    “Consequently, I find the defendant guilty of all the counts of the charge”.

    The convict’s counsel, Mr Oyelola Damilola, offered an allocutus on his client’s behalf, asking the court to tamper justice with mercy.

    “He is the only breadwinner of his young family. He is also a first time offender, with no previous criminal record. He has also been remorseful about his action,” Damilola told the judge.

    But Agwu opposed him.

    The prosecutor told the judge to disregard Damilola’s plea, because “the convict never showed any sign of remorse while the trial lasted.”

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    Agwu argued that “in sentencing the convict, the court must look at principles of sentencing whether it is a mitigating or aggravating factor.”

    He said the convict’s case “is constipated with aggravating factors,” which prevented Robinson from being entitled “to leniency or liberal conditions.”

    Following the submissions, Justice Abang discountenanced the defendant’s allocutus.

    The judge held: “This is a case that the convict is a hardened criminal that has no human sympathy. He was entrusted with investors’ monies, he inflicted pains on the investors who lodged their monies in his bank while he fraudulently moved the money to his account in Guaranty Trust Bank (GTB).

    “He is an avenger of evil, he is a fraudulent and lawless person. He planted thorns, he is not expected to gather flowers. Drastic situations deserve drastic solutions.

    “The convict is hereby sentenced to seven years in count one, three years in count two, three years in count three, three years in count four and three years in count five.

    “The terms of the sentence are to run concurrently”.

    In the charge, Robinson was said to have converted the sum of N5 million which the bank reserved to buy CBN’s Treasury Bills.

    He was also said to have fraudulently withdrawn N100,000, for 15 months, which he claimed was security vote without any approval and which he was unable to account for.

    He was also accused of fraudulently diverting N9 million belonging to different investors of the bank to his private account with GTB, and forging several documents to cover his tracks.

  • Two stockbrokers docked for N11m theft

    The Special Fraud Unit (SFU) of Nigerian Police on Thursday arraigned two stockbrokers, Adegboyega Adewale  and Idris Asunmo before the Lagos High Court sitting in Ikeja for allegedly stealing N11 million.

    They were arraigned before Justice Josephine Oyefeso on a two- count charge of conspiracy and stealing.

    The prosecution counsel, Emmanuel Jackson, alleged that the defendants between January 2006 and May 2007, conspired amongst themselves to steal about N11million belonging to Morgan Capital Securities Limited, formally known as International Capital Securities Limited.

    He said the offence was contrary to Section 390 (9) of the Criminal Code, Laws of Lagos State 2015 and punishable under same.

    When the matter was called, Jackson urged the court to admit the charge against the defendants and asked them to take their plea.

    But counsel to the first defendant, Mr. Solomon Okoye, prayed the court for short adjournment to enable the second defendant’s counsel to appear before the court.

    He said the counsel was bereaved.

    The prosecutor did not oppose the adjournment sought by the defence counsel.

    Justice Oyefeso granted the request of Okoye for an adjournment.

    The judge said that in the interest of justice, the second defendant should not be denied legal representation.

    She subsequently adjourned the matter till June 11.

     

  • Court orders SFU to free activist

    A Tinubu Chief Magistrates’ Court in Lagos has ordered the Police Special Fraud Unit (SFU), Lagos to release an activist, Audullahi Saheed Mosadoluwa, alias ‘Mr-Ibile’.

    Chief Magistrate Kikelomo Ayeye made the order following the SFU’s failure to conclude its investigation of a petition and file a charge against Mr-Ibile since December 28.

    Mr-Ibile, founder of the Ibile Peaceful Revolution Network, was first arrested last December 17.

    During his arraignment on a temporary charge on December 28, the police applied for a remand order and, granting the request, Chief Magistrate Ayeye remanded him in prison custody for 21 days.

    During hearing on January 18, Chief Magistrate Ayeye held that Mr-Ibile’s right to freedom was paramount and that this did not stop the police from carrying on its investigation.

    The court admitted him to bail and adjourned till January 18.

  • Police arraign Lagos chief for alleged forgery

    The police Special Fraud Unit (SFU) on Wednesday arraigned the Balogun of Epe, Chief Olajide Ikuforiji, at the Federal High Court in Lagos for alleged forgery.

    He was accused of forging minutes of an emergency meeting of the Eko Epe Forum held on October 20, 2012, over a chieftaincy tussle.

    The police said the chief did so “with intend to defraud,” adding that he “fraudulently uttered (presented) a forged and false” document with intent that it may be acted upon as genuine.

    The police said it was to prejudice the Oba of Epe Kingdom, S.O. Adewale, as well as Alhaji Adio Oduola and Alhaji Tunde Bello.

    The alleged offence is contrary to Section 1 (2) of the Miscellaneous Offences Act, Cap M17, Laws of the Federation of Nigeria 2004.

    Ikuforiji pleaded not guilty to the two-count charge.

    His lawyer, Ovie Adollo, objected to the charges on the basis that two other cases on the same issue were already pending at the Lagos State High Court and at the Federal High Court.

    “With this charge, three different courts are being invited to sit and decide on the same subject-matter,” he said.

    According to him, Ikuforiji and the Olu of Epe were the defendants in the suit before Justice Samuel Candide-Johnson of the Lagos State High Court, where he said issues had already been joined.

    “We also filed an action before Justice Babs Kuewumi (of the Federal High Court), which is still subsisting. The best decision is to await the decision of the courts. They are just interested in hounding the defendant,” the lawyer said.

  • How banker transferred customers’ funds to family – Police

    The Special Fraud Unit (SFU) of the police on Thursday arraigned a Diamond Bank Plc worker, Obioha Okengwu, at the Federal High Court in Lagos for allegedly conspiring with his family members to defraud the bank of N111.2 million.

    Prosecution counsel, Effion Asuquo, said Okengwu committed the offence while working in the bank’s E-business unit where he handled daily settlement of Point of Sales (POS) and Automatic Teller Machine (ATM) transactions.

    He said the accused unlawfully credited four of his family members’ accounts using depositors’ funds.

    [ad id=”403656″]The police said Okengwu transferred N37million and N41. 4 million to two different accounts owned by Uchenna Okengwu, while he credited Rosamund Okengwu’s account with N10 million.

    The accused person also allegedly transferred N13. 3 million to Bekky Okengwu’s account and N9. 5 million to Chukwuemeka Okengwu’s account.

    Asuquo said the accused unlawfully manipulated the POS machines for his personal gain and thereby contravened Sections 20, 27 (b) and 30 (1) of the Cybercrime (Prohibition, Prevention) Act, 2015.

    He said the bank worker committed the alleged offence between last April and August in Lagos.

    Okengwu pleaded not guilty to the charge.

  • Oil marketer held for N594m ‘fraud’

    Oil marketer held for N594m ‘fraud’

    The Police Special Fraud Unit (SFU) in Lagos has begun investigations into a N594 million fraud allegedly perpetrated by an oil marketer, Mr Dapo Abiodun, the Chief Executive Officer of Heyden Petroleum.

    Spokesperson of the unit, Mrs Ngozi Agu-Isintume, a Deputy Superintendent (DSP), confirmed the case yesterday.

    She explained that the probe followed a petition sent to the Commissioner of Police by a civil society group, Coalition Against Corrupt Leaders (CACOL), alleging fraud against the businessman. “We have received a petition in that regard and we will look into it,” she said.

    Mr Debo Adeniran, who chairs the coalition, said: “Our group which is a community-based non-governmental organisation with the objective of fighting corruption and corrupt persons by any means possible at all levels in Nigeria, has monitored the fuel subsidy fraud saga from 2012 till date and we have discovered that out of about 25 oil marketers indicted by the federal government, only Mr Dapo Abiodun of Heyden Petroleum has not been made to refund the N594 million he fraudulently received from government, hence the need to get the police to visit the case and unravel how he has been able to escape from the searchlight of our law-enforcement agencies.”

    Praising the unit, the petitioner said: “It is particularly noteworthy that a few corrupt public officials and fraudsters who hitherto saw themselves as untouchable have not only been touched but prosecuted through the efforts of your unit. We are sure more could still be done to record more monumental achievements if you will partner with other organisations like ours, which are committed to the same goal of ridding our society of bad eggs.”

    It further said: “We draw your attention to and call for your urgent investigation of a fraud of N594 million allegedly perpetrated by Mr Dapo Abiodun who is the Chief Executive Officer of Heyden Petroleum. From the information available to us, Mr Abiodun committed the fraud under the controversial fuel subsidy regime of the present federal government.

    “It is on record that the federal government, through the federal ministry of finance, indicted 25 oil-marketing firms for defrauding the government of a whopping N408 billion in fictitious subsidy claims. The indictment was contained in a statement by the Minister of Finance, Dr Ngozi Okonjo-Iweala through her Senior Special Assistant (Communications), Mr Paul Nwabuikwu on August 22, 2012.

    “Surprisingly, from our findings, virtually all the indicted companies have either been made to make refunds or are being prosecuted by the law-enforcement agencies, yet, no one has deemed it fit to question Mr Abiodun and his Heyden Petroleum.

    “As a result, we are compelled by patriotic zeal to urge you to deploy your team of professional investigators to unravel how N594 million would have gone to an individual’s pocket and the same person is still walking the streets free despite a documented public indictment by the federal government. We are counting on you to do the needful in this regard in the interest of Nigeria’s economy and the suffering poor masses.”

  • Police probe alleged N50m fraud

    Operatives of the Special Fraud Unit (SFU) of the Nigerian Police are investigating alleged N50 million fraud against a businessman, Solomon Nwadiogbu.

    The suspect allegedly collected the money to supply the complainant with doors, kitchen equipment and wardrobes to furnish his property in Lagos.

    It was gathered that the suspect diverted the money and instead, used it to buy choice cars.

    Police sources told The Nation that the suspect was arrested on Monday 28th April, but he denied the allegation initially.

    “He claimed that the complainant wanted to pay him in dollars somewhere around PWD Ikeja but that as soon as he touched the money, the holy spirit told him not to accept the money because the complainant had set armed robbers along his route to rob him of the money.

    “He also claimed that the receipt of acknowledgement of N50 million that the complainant tendered was gotten from his e-mail box which the complainant hacked into,” the source said.

    Police sources said during interrogation, the suspect, who is the Managing Director of Emilinks Limited, later admitted that he received N50 million from the complainant and confirmed issuing the receipt tendered by the complainant.

    He blamed his inability to supply the doors on the complainant whom he claimed changed the doors from the spec they earlier agreed upon, adding that the number of doors quoted for was 97 but after completing the house, the number of doors had jumped to 132.

    Nwadiogbu also stated that the newly produced doors were being shipped, adding that they will arrive on or before May 16, 2014.

    It was gathered that Police investigation revealed that the suspect has refused to show any evidence/proof that he intended to supply the items for which he collected N50million three years ago for a supply that should have been done within 90days of the receipt of the money.

    A source said: “It was also observed that the suspect is a name dropper, boastful, very irrational and exhibiting signs of violence.  The suspect appears to be suffering from delusions of grandiose, delusions of persecution and megalomania.  Rather than respond to questions, he shouts and boasts of knowing everybody that matters in power both locally and internationally.

    “The suspect has also introduced all manner of drama/subterfuge to prevent the Police from thoroughly investigating him. The case has been charged to court and the suspect is currently being remanded at Ikoyi Prison since he could not meet up with his bail condition.”

    SFU spokesperson, Ngozi Isintume-Agu, a Deputy Superintendent (DSP), confirmed the arrest of Nwadiogbu, but said the matter is been investigated.

     

  • Police to pay tricyclists N2m damages

    Justice Okong Abang of the Federal High Court in Lagos yesterday awarded N2million damages against the police for illegally detaining three tricycle operators for three days for owing a micro-finance bank

    He warned the police against collecting debts on behalf of anyone, saying that the primary duty of the police is the enforcement of law and order.

    The court held that since the transaction between the applicants and Petra Microfinance bank was civil in nature, the appropriate step was for the bank to have sued for a recovery of the debt.

    The judge said it was not the duty of the police to act as a debt collector for the bank.

    “The police will never learn; even if it is true that the applicants collected monies meant for the payment of the loan facility, it is not a guarantee for the police to step in as a debt collector, and abandon their role of maintaining law and order.

    “The sum of N2 million is hereby awarded as damages against the respondents jointly and severally, for illegal arrest and detention of applicants.

    “A cost of N50,000 is also awarded in favour of the applicants, I so hold. The action of the police is an unlawful violation of the applicants’ rights,” the judge held.

    Respondents in the suit are: the Inspector General of Police, Commissioner of Police Special Fraud Unit (SFU), Commissioner of Police Lagos State, and Petra Microfinance Bank Ltd.

    The applicants had sought a declaration that their detention by officers of the third respondents, and invitations by the second respondent, over a purely civil transaction, amounted to a breach of their rights.

    They had sought a mandatory order of court, restraining the respondents, or their officers, from further harassing, or threatening to arrest them, over their loan facility agreement with Petra Microfinance bank.

    They had also, claimed the sum of N20 million against the respondents, jointly and severally, for their illegal arrest and detention.

    The applicants averred that they had entered into a loan agreement with the fourth respondent on April 16, 2009.

    They stated that the contract was for the supply of 50 tricycles to their members, adding that payments were to be remitted by instalments.

    According to the applicants, the bank omitted a clause in the agreement, for the provision of a comprehensive insurance policy, on all the tricycles.

    They said some of the tricycles were involved in road accidents, while others were impounded by the police and the Lagos State Traffic Management Authority (LASTMA).

    The applicants claimed that instead of putting the insurance cover in place to remedy the damaged tricycles, the bank continued charging interest and demanding payment of the tricycles.

    They said that the bank eventually, reported the matter to the State Criminal Investigations Department (SCID), Panti, Yaba on Lagos Mainland, that the applicants were stealing the part payments.

    The applicants told the court that the police then arrested, tortured and detained them for three days, forcing them to “cough up the instalments from their pockets”

    According to them, following a letter by their counsel to the SCID, they were released, while the bank further reported the matter to the Special Fraud Unit, which sent them an invitation.

  • Suspected serial fraudster in police net

    Suspected serial fraudster in police net

    A FARMER, Godwin Diavel, who allegedly withdraws money from accounts of bank customers, has been arrested by the police in Lagos.

    Operatives attached to the Special Fraud Unit (SFU) of the Force Criminal Investigation Department (FCID) arrested the suspect, following a tip-off.

    It was gathered that Diavel, 54, attempted to withdraw N500,000 from a new generation bank’s branch at Ogba on March 20 from the account of Saheed Ademola Adegbola, with a forged signature on the withdrawal slip.

    The suspect confessed that he was at the Warehouse Road branch of the bank three weeks ago, where he got an instrument belonging to the customer and took it to the Ogba Branch where he was caught.

    Police spokesperson at the SFU Ngozi Isintume-Agu said: “Investigation conducted by the bank before the suspect was handed over to SFU detectives revealed several other fraudulent successful withdrawals and attempted ones by the fraudster using various pseudo names.

    “Sometime in February, the suspect was arrested at Ejigbo branch of the bank where he identified himself as Peter Okoro, while attempting to seek information on another customer’s account.  He was subsequently held and handed over to the Police.”

    “Also on October 4, 2013,” Isintume-Agu added: “he was caught at Opebi branch where he identified himself as Samson Omobo and fraudulently impersonated another customer and attempted to withdraw N300,000.00 from the customer’s account.

    “Similarly, on January 29, the suspect was at Ilupeju branch of the bank and impersonated a customer, Sunday Onwuabaizo and successfully withdrew of N470,000.00 from his account. Again, on November 19, 2013, he was at the Abule Egba branch of the same bank where he impersonated Chinedu E. Onwutaly and fraudulently withdrew N220,000.00. Also, sometime in 2013, he was at Abraka branch of the bank where he succeeded in withdrawing N470,000.00 from the account of Kabiru Mohammed Baday.”

    Diavel, who hails from Oghare in Ethiope West Local Government Area (LGA) of Delta State, said that he goes to the various bank’ branches, picking up used withdrawal slips by customers.

    He said he would take the slips home and study the signatures on them before forging them for presentation. He confessed that it was the cashier at Ogba branch of the bank that discovered that his picture did not tally with the one on the mandate card.  He added that he was unable to answer correctly some of the cashier’s questions.

    The suspect allegedly stated that he had succeeded on several occasions in withdrawing from customers’ accounts in Delta State, adding that he was arrested at Opebi while attempting to withdraw N300,000.00 and was handed over to Police.

    The case was charged to court, but was struck out because the bank did not appear to give evidence.  He also stated that he has no account with the said new generation bank.

    Investigation is on-going, according to the police.  It is strongly believed that the suspect belongs to a syndicate that specialises in forging documents and defrauding unsuspecting people and financial institutions.

    Isintume-Agu said efforts had been stepped up to arrest other members of the syndicate, adding that suspect would soon be charged to court.

    She said the Commissioner of Police (SFU), Umar Farouk Idris has assured account holders of the continued cooperation of the police with banks to secure their deposits against suspected fraudsters like Diavel.

    He enjoined other banks to be on the alert and promptly report suspected persons to the police.

    Farouk also advised account holders to protect their personal information and always destroy used deposit/withdrawal slips before leaving the bank.

  • Ex-bank MD remanded for alleged financial misconduct

    A former Managing Director of defunct Integrated Micro Finance Bank, Akinteye Ademola was yesterday, remanded at the Special Fraud Unit (SFU), by a Federal High Court in Lagos.

    The banker was docked by SFU for alleged financial malpractice on an amended three-count charge bordering on banking and financial crimes to which he pleaded not guilty.

    He was alleged to have conspired with two other directors, Jerry Orimovuohoma and Oladepo Bello to grant unauthorized credit facilities in the tune of N327.6 million to themselves, without collateral.

    Ademola was said to have caused the sum of N131.2 million to be withdrawn by one Adewale Ayoade, which he (Ademola) allegedly converted to his personal use.

    Orimovuohoma was alleged to have recklessly granted credit facilities to himself, in the tune of N29.2 million while Bello was alleged to have granted facilities to himself in the tune of N3.2 million.

    The offences are said to contravene the provisions of sections 19(a), 20, 20(a) and 23(4) of the Failed Banks (recovery of debts) and Financial Malpractices in Banks Act, 2004.

    Although defence lawyer Glover-Ashimi had drawn the court’s attention to a bail application filed on February 28, prosecuting Akin Akintewe count him with an application for remand of the accused.

    But Justice Okon Abang who noted that the bail application was not in the court records, ordered that the accused be kept in SFU custody.

    He also noted that assuming the bail application was in the record of the court, the court will not act on it, since it was filed before the arraignment of the accused.

    “It is my humble view, that a court of law can only entertain a bail application of an accused, upon his arraignment.
    “The court cannot therefore take action on an application that is not before it, I so hold,” the judge held, just as he adjourned the case to April 7 for trial.

    Justice Abang also ordered the prosecution to get its witnesses ready. The other two directors were absent when the case was called.

    Counsel to Orimovuohoma, Tunde Awogbade had informed the court that his client was on admission at a private hospital, and prayed for an adjournment.

    But the prosecution objected and urged the court to proceed with the arraignment of the first accused who was present in court.