Diamond Bank Staff In Court Over $1m Fraud - Business - Nairaland
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| Diamond Bank Staff In Court Over $1m Fraud by dipoolowoo: 10:02am On Nov 12, 2016 |
By Dipo Olowookere An employee of Diamond Bank Plc, Mr Babatunde Fato, has been arraigned by the Economic and Financial Crimes Commission (EFCC) on allegation bordering on, false declaration of assets and fraud to the tune of $1 million. Mr Faro was brought before Justice Nnamdi Dimgba of the Federal High Court sitting in Maitama, Abuja on a 4-count charge on Friday. He was arraigned alongside another suspect, Mr Sada Adamu. The EFCC accused Mr Adamu of making cash payment of the said sum being an amount exceeding the stipulated N5 million threshold payable cash by an individual according to law, to Faro. The offence, the anti-graft explained, was a breach of Section 1(a) of the Money Laundering Act, 2011 as amended and punishable under Section 15(2)(b) of the same Act. But the accused persons pleaded not guilty when the charges were read to them. In view of their plea, counsel to EFCC, S. A. Ugwuebulam, asked the court for a date to commence trial. However, W. Y. Maman and W. T. Iorshe representing Mr Adamu and Mr Faro respectively prayed the court to grant the accused persons bail pending trial. Opposing the motion, Ugwuebulam stated that, “the offences border on money laundering and other financial transactions without licenses. I urge the court to discountenance the motion for bail and order speedy trial of the case”. Justice Dimgba, thereafter, adjourned to November 14, 2016 for ruling on the bail application and ordered the accused persons to be remanded in Kuje prison. http://www.businesspost.ng/2016/11/12/diamond-bank-staff-court-1m-fraud/
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| Re: Diamond Bank Staff In Court Over $1m Fraud by eezeribe(m): 11:24am On Nov 12, 2016 |
After rushing to comment on the second page of this post... I then settled to read the post properly, only to discover I had already commented before it hit front page,and it is even FTC... 2 Likes 1 Share |
| Re: Diamond Bank Staff In Court Over $1m Fraud by trishapal(f): 7:02am On Nov 13, 2016 |
Banks are really losing a lot of money to some fraudulent staff members in this period of economic recession. |
| Re: Diamond Bank Staff In Court Over $1m Fraud by legibow: 7:04am On Nov 13, 2016 |
The bank , it's self need to be sued... What's a bank doing in an uncompleted build... No standard 13 Likes |
| Re: Diamond Bank Staff In Court Over $1m Fraud by Nobody: 7:04am On Nov 13, 2016 |
trishapal: The banking industry In Nigeria itself is the biggest fraud. Wonder why they declare billions in profit after tax despite economic recession? They buy the dollars at official rate and sell at neck stiff prices. So many hidden charges u didn't bargain for. Deposit N10,000 today, before 24hrs your balance will be N9,970.25k. Irresponsible rates on fixed deposit which equates to cheating and so on. Despite this they keep paying peanuts. Why their staff no go steal? 35 Likes 4 Shares |
| Re: Diamond Bank Staff In Court Over $1m Fraud by sylvar02(m): 7:04am On Nov 13, 2016 |
Some staffs eh  Anyways [size=20pt]E kú rècéssìon èní ooo  [/size] 2 Likes |
| Re: Diamond Bank Staff In Court Over $1m Fraud by kings09(m): 7:04am On Nov 13, 2016 |
Na ordinary Nigerians Efcc de get power but jail top corrupt politicians, they can't. Wat a bully agency. 6 Likes |
| Re: Diamond Bank Staff In Court Over $1m Fraud by Everfrank(m): 7:05am On Nov 13, 2016 |
Good |
| Re: Diamond Bank Staff In Court Over $1m Fraud by Nobody: 7:08am On Nov 13, 2016 |
| When I return from church I go talk my mind... 1 Like |
| Re: Diamond Bank Staff In Court Over $1m Fraud by amtaken(f): 7:11am On Nov 13, 2016 |
I was absent from here for weeks. I was busy with Donald and Ivanka Trump on Instagram. I wish a mod would ban me so that I can go back to Instagram and continue to dine with the high and mighty all over the world. Nairaland is becoming too local for me. You guys gotta find a way of globalizing this shit. I am tired of all the tribal bashing here. Even Aisha Buhari is my good friend on insta. Her young photographer daughter even follows me back. Bye local champs. See you all next year I feel like it. I am outta here. 12 Likes |
| Re: Diamond Bank Staff In Court Over $1m Fraud by Nobody: 7:15am On Nov 13, 2016 |
amtaken: Carry your wahala and go 23 Likes 3 Shares |
| Re: Diamond Bank Staff In Court Over $1m Fraud by ednut1(m): 7:16am On Nov 13, 2016 |
trishapal:case of ole ji ole gba. thief stealing from Thief |
| Re: Diamond Bank Staff In Court Over $1m Fraud by Nobody: 7:16am On Nov 13, 2016 |
You will some Bankers in nice cars and well ironed suits, you'll think they're earning more than some farmers. Make them handle this man well, others go learn |
| Re: Diamond Bank Staff In Court Over $1m Fraud by nairaman66(m): 7:18am On Nov 13, 2016 |
Double Wahala! |
| Re: Diamond Bank Staff In Court Over $1m Fraud by basisop(m): 7:20am On Nov 13, 2016 |
The guy don sell FX. |
| Re: Diamond Bank Staff In Court Over $1m Fraud by Ramanto(m): 7:21am On Nov 13, 2016 |
amtaken: congratulations. now, everybody can rest. |
| Re: Diamond Bank Staff In Court Over $1m Fraud by Danny287(m): 7:22am On Nov 13, 2016 |
Hmmm fraudsters every were even in the banks na wa o if doing MMM is @ your own risk then doing business with banks also is @ ur own risk with this kind of persons there. everybody involved should be dealt with 2 Likes |
| Re: Diamond Bank Staff In Court Over $1m Fraud by law001(m): 7:22am On Nov 13, 2016 |
Mr. Faro was not charged for fraud Mr. Man. He was charged for receiving money exceeding 5,000,000 not using financial institution and receiving gratification which was against the Bank employee law. All these media people. 11 Likes 1 Share |
| Re: Diamond Bank Staff In Court Over $1m Fraud by symbianDON(m): 7:23am On Nov 13, 2016 |
free them jare |
| Re: Diamond Bank Staff In Court Over $1m Fraud by samirchudi(m): 7:30am On Nov 13, 2016 |
confused system....even nairaland no get beta talk self...but d banker greedy sha... |
| Re: Diamond Bank Staff In Court Over $1m Fraud by Mopolchi: 7:30am On Nov 13, 2016 |
Omo this guy no get joy. But that name Babatunde Fato sha. Very adept in pilfering. 5 Likes
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| Re: Diamond Bank Staff In Court Over $1m Fraud by Exponental(m): 7:35am On Nov 13, 2016 |
Eeya! |
| Re: Diamond Bank Staff In Court Over $1m Fraud by Mopolchi: 7:36am On Nov 13, 2016 |
amtaken: 7 Likes
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| Re: Diamond Bank Staff In Court Over $1m Fraud by Nobody: 7:37am On Nov 13, 2016 |
[size=25pt]I'M HERE JUST TO VERIFY THE NAME.... WELL, I WASN'T DISSAPOINTED [/size] 8 Likes |
| Re: Diamond Bank Staff In Court Over $1m Fraud by Built2last: 7:37am On Nov 13, 2016 |
Let me educate some ignorant minds before you try these two and sentence them in your mind as always. FX racketeering is done by all banks in Nigeria and CBN is the chief in this business. Going by what they are charged for on deposits. We have the NFIU, Nigeria Financial Intelligence Unit. All banks are to install this tracker on their system to notify EFCC of any amount exceeding 10, 000 USD. Did Diamond bank install that on their system? Did it notify EFCC? Babatunde being a marketer I know goes out to bring in money for the bank. It's not his duty to know how much a customer paid into that account. Arresting him now for being an account officer is bad on the part of EFCC. EFCC should go after Diamond bank that accepted the money and not a bloody marketer. I am sure when Tunde informed his boss that a million dollars has been brought in by one if his customers. Adamu. They must have celebrated him and called him a performer. Now things have gone sour and it's the officer managing the account you see EFCC harassing. . I write this because many bank staff looking for daily bread are in EFCC net for simply being marketers. I approach you to open account with the bank not me. You open with 30k. ..Two weeks after you deposit or wire 1 million dollars into the account. The officer who went to open account is pushed to face EFCC. Instead of the bank enjoying the float and interest on the account to face EFCC. They push the marketers to face the music. Who broke the law quoted above? is it not the bank? This law is displayed boldly ib the banking hall of every bank. Why did Diamond bank accept the money in the first place? This is why I left banking 35 Likes 2 Shares |
| Re: Diamond Bank Staff In Court Over $1m Fraud by Nobody: 7:59am On Nov 13, 2016 |
. |
| Re: Diamond Bank Staff In Court Over $1m Fraud by wellmax(m): 8:00am On Nov 13, 2016 |
This guy is just a front to some corrupt politician. He better starts naming names. |
| Re: Diamond Bank Staff In Court Over $1m Fraud by ISTANDWITHBUHAR: 8:01am On Nov 13, 2016 |
kings09: SO they should have let him go with the $1million fraud then because he is an ordinary Nigeria? |
| Re: Diamond Bank Staff In Court Over $1m Fraud by Built2last: 8:04am On Nov 13, 2016 |
tooltip: I agree, the public do not have that law. The bank has the law. my question is. .why accept the deposit in the first place if not their unwanten desires and unabated appetite for interest floats on deposits. Why is the bank not taking the heat. 5 Likes |
| Re: Diamond Bank Staff In Court Over $1m Fraud by obiaguna(m): 8:04am On Nov 13, 2016 |
Built2last: I read the story and I was still searching for what can actually be termed as "money laundering". This is just wretched journalism. I would term these banks as callous if this is what they actually do. Hope the poor innocent man doesn't go behind bars. Shame on the opposing counsel for wanting to wrap this case up as soon as possible. Big shame. If only they can speedily go after the proper criminals (politicians) cos na for poor man body them dey sabi law. 4 Likes |
| Re: Diamond Bank Staff In Court Over $1m Fraud by pointstores(m): 8:10am On Nov 13, 2016 |
nawa |
| Re: Diamond Bank Staff In Court Over $1m Fraud by arabianights: 8:28am On Nov 13, 2016 |
trishapal:my dear,u can say that again. |
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