Appeal Court Affirms Okey Nwosu’s Conviction

Attempt by the former managing director of the defunct FinBank Plc, Mr. Okey Nwosu[s][/s] and Dayo Famoroti to set aside their conviction by Justice Lateefa Okunnu of the Lagos High Court literally hit the rock today June 8, 2022 as the Court of Appeal sitting at Tafawa Balewa Square, Lagos upheld their conviction as well as the three years jail terms slammed on them.

However, the appellate court reduced the restitution order made from Eighteen Billion Naira to Ten Billion Naira on the grounds that the bank (FinBank Plc.) had recovered about Eight Billion Naira.

Justice Okunnu, had in January 2021 convicted and sentenced Okey Nwosu and Famoroti to three years imprisonment over N19.2 billion fraud.

The Economic and Financial Crimes Commission (EFCC) prosecuted Nwosu alongside Dayo Famoroti, Agnes Ebubedike and Danjuma Ocholi on a 26-count amended charge bordering on stealing and illegal conversion to the tune of N19.2 billion.

The defendants were said to have perpetrated the fraud while they were directors of the bank.

Karlovych:
Meanwhile a drug baron and money laundering hoodlum is contesting for the highest position in government

Karlovych:
Meanwhile a drug baron and money laundering hoodlum is contesting for the highest position in government

nymphomaniac:
How does one finish 19.2Bn Naira? People steal money without the fear of God. This is asides their allowances which they were paid for handsomely at the time o.

Okunnu gives sound judgments. I wasn’t expecting an overturn of the judgment

HonNL:
https://www.nairaland.com/6347575/10.9-billion-fraud-court-jails#97760339



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Karlovych:
Meanwhile a drug baron and money laundering hoodlum is contesting for the highest position in government

Newhorizon777:
Okey nwosu was evil I worked under him they eat all our benefit made us contract staff and in the end we left with nothing. The 3 year time is un fair on us that he cheated. They should collect all his money and return exactly what belong to we former finbank staff