Banker, In-law Docked Over N2.5bn Fraud

It was pay back time on Tuesday for a suspected fraudster and his banker in-law as they were arraigned for N860 million fraud at the Lagos High Court, Ikeja. Ebi Odeigah and his banker manager brother-in-law, Alex Nkenchor, were slammed with a 10-count charge of conspiracy, attempted fraud and stealing by the Economic and Financial Crimes Commission (EFCC).

Odeigah’s company, GMT Securities and Assets Nigeria Limited, which the prosecution alleged was used as conduit pipe to perpetrate the alleged crime, was also charged along with its owner and the brother-in-law.

Specifically, Odeigah was charged with a 10-count charge along with his company over alleged stealing through banker’s draft issued to defraud Union Bank to the tune of N860 million last year. The crime was allegedly perpetrated in connivance with his brother-in-law who was the manager, Union Bank of Nigeria Plc, Golden Plaza branch, Falomo, Lagos State.

The former bank manager got a four-count charge for alleged collaboration in the crime.
The prosecution alleged that three instalments of banker’s draft were issued in the sum of N200 million, N210 million and N450 million respectively to fleece Union Bank in July last year by the accused persons with alleged collaboration of his brother-in-law who was in charge of the branch.

Beside the alleged defrauding of Union Bank to the tune of N860 million, the prosecution also accused Odeigah of issuing dud cheques to the tune of N1.7 billion with an intent to defraud the bank.
According to the charge preferred against Odeigah by the EFCC, the accused allegedly issued six instalments of dud cheque with intent top defraud Union Bank.

The alleged offence, according to the prosecution, is punishable under Sections (1) (a) of the Dishonoured Cheques (offences) Act, Cap. D11 Laws of the Federation of Nigeria; Section 516 of the Criminal Code Law Cap C17 Laws of Lagos State of Nigeria, 2003; and Section 390 ( (b) of the Criminal Code Law Cap C17 Volume II Laws of Lagos State of Nigeria, 2003.

The accused persons, however, pleaded not guilty to the charge. The EFCC prosecutor, Ben Ubi, prayed the court to remand the accused persons in prison custody while a trial date is fixed by the court.
Consequently, the trial judge, Justice Morenike Obadina, ordered the accused persons to be remanded in Ikoyi Prisons and fixed October 20, 2009 to hear their bail applications. She also fixed November 12 and 13, 2009, for the trial of the accused persons.

At the end of the proceedings, there was a mild drama in the court premises as Odeigah attempted to attack photo journalists who were trying to take his picture while one of his suspected aides slapped a reporter. The unidentified aide was promptly arrested by security operatives in the court who detained him.


http://www.sunnewsonline.com/webpages/news/national/2009/oct/14/national-14-10-2009-001.htm

its seems to me that this bank manage knews his boss,the bank CEO was stealing money and he has to make money too,look at the way our banking workers and CEO Has treated us the depositors,i pray they all rot in jail.

who ask them to fraud the bank they attack journalist trying to took thier photos