The Economic and Financial Crimes Commission, EFCC, has secured the conviction and sentencing of one Efe Egube, a former Bank Manager, to seven years imprisonment before Justice Atinuke Ipaye of the Lagos State High Court sitting in Ikeja, Lagos.



The convict, who was a Branch Manager of the defunct Oceanic Bank, was arraigned alongside his company, Ocean Energy Trading and Services Limited, sometime in 2014 on a 19-count charge bordering on obtaining money by false pretence to the tune of N50, 049,000.00, an offence contrary to Section 1(1) and (3) of the Advance Fee Fraud and Other
Related Offences Act No. 14 of 2006.



Egube’s journey to prison began after the Commission received a petition dated February 6, 2013 written by A.A. Malami, SAN & Co. on behalf of Sanusi Kamba, owner of Aminu Gandi Petroleum Limited.



The petitioner alleged that between 2007 and 2008, the defendant used his position as a Branch Manager to facilitate the granting of a credit facility to the petitioner, which was disbursed in tranches.



The defendant was also said to have given the petitioner instruction to make payments into the accounts of some individuals and companies for the purchase of petroleum products to the tune of N50, 049,000.00.

However, the petroleum products were never supplied to the petitioner by the individuals and companies, thereby making it impossible for the petitioner to repay the loan when it became due.



He pleaded not guilty to the charge, thereby setting the stage for his trial.
In the course of the trial, the prosecution presented six witnesses
and tendered several documents that were admitted in evidence by the
court against the defendant. The defendant, however, testified in his trial.

Delivering her judgment, Justice Ipaye convicted and sentenced Egube to seven years imprisonment on counts 3, 4, 5, 6, 7, 8, 9,10,11,12, 13 and 17.
The sentences are to run concurrently from the day of conviction.

Justice Ipaye also gave a restitution order against the convict and his company "for the repayment forthwith of the total amount obtained by false pretence.”

Source: https://www.mediahelm.com.ng/2019/01/n50m-fraud-former-bank-manager.html

Dirty business act. You tell someone to collect loan using their identity. Then you go ahead to defraud them of the loan they collected...


419ers should be smoked off.

d sentence is not the equivalent of the stolen money... it's supposed to be life in prison...

this is Nigeria errybody na criminal forget social media talk

raphretle:
d sentence is not the equivalent of the stolen money... it's supposed to be life in prison...

POVERTY MENTALITY

TO YOU 50 MILLION IS LIKE 50 BILLION

Haba

When you can make easy cash HERE

.

Good






The way my landlady has been eyeing me since I boughted snipper from her this morning is making me to feel uncomfortable o

raphretle:
d sentence is not the equivalent of the stolen money... it's supposed to be life in prison...

Can’t be such for 50m. Infact if he’s repaying the money he shud be given a lesser sentence. Our politicians haven’t even repaid the billions they stole yet and are being pardoned or even called saints by the government. What a country.

Is he a Flatron ? Seems so

What of our bastard politicians who stole in billions and granted bail for N100m

raphretle:
d sentence is not the equivalent of the stolen money... it's supposed to be life in prison...

Money that cannot buy a plot of land in good part of Ikorodu

Hope the EFCC is going to handle the AMCOM, Keystone and 9mobile deal the same way this case was treated ooo!!!

Oceanic Bank..


Remain Intercontinental Bank..


Rogue Banks

post=74425257:
Very good one.....
Now, we need our politicians to face the same treatment.
Their atrocities are much worse than this!

Starting with your paymaster, Buhari, and other high-profile embezzlers, like Tinubu, Atiku, OBJ, etc.

gensteejay:

Starting with your paymaster, Buhari, and other high-profile embezzlers, like Tinubu, Atiku, OBJ, etc.

YOU ARE RIGHT, all of them!

On the day of reckoning there shall be no mercy.

What shall it profit a man after counting people's money for years only to end up in jail. Somebody already said, nothing best describes vanity like cheese balls. If you like it 1 dozen, you eat in vain.

SatanHelpMePls:




POVERTY MENTALITY
TO YOU 50 MILLION IS LIKE 50 BILLION

Lol,sounds true

What's the update on that bank CEO of either Oceania or access bank...erastus akingbola


This naija see.

PStacks:
Oceanic Bank..


Remain Intercontinental Bank..


Rogue Banks

No oceanic was swallowed by Eco bank

oluwasegun007:
What's the update on that bank CEO of either Oceania or access bank...erastus akingbola


This naija see.

Actualy, intercontinental .....now access

Humblega:



Actualy, intercontinental .....now access

Thanks for the update.

Some animals will say GEJ have started it. In fact he was sentence during the time of GEJ . Buhari is just escorting him to prison.
Children of hate will say corruption fight is a scarm, why they no convict aboki from katsina.
GOD BLESS BUHARI

a super day for him