Ex-bank manager jailed 121 years over fraud

By Innocent Raphael

A former manager at First City Monument Bank, Nwachukwu Placidus, has been handed a staggering 121-year prison sentence by Justice S. N. Odili of the Anambra State High Court in Onitsha.

The EFCC, in a statement posted on its Facebook page on Saturday, disclosed the outcome of the trial, highlighting the severity of the charges and the resultant sentence meted out to Placidus for his fraudulent activities.

Placidus was convicted for diverting a jaw-dropping sum of N112,100,000 from a customer’s fixed deposit account for his own personal use.

The verdict follows his arraignment on Tuesday, March 27, 2018, facing 16 counts of forgery, stealing, obtaining by false pretense, and uttering, by the Economic and Financial Crimes Commission (EFCC), Enugu Zonal Command.

The statement read, “Justice S. N. Odili of the Anambra State High Court sitting in Onitsha, Anambra State, has convicted and sentenced a former manager with First City Monument Bank, FCMB, Onitsha branch, Nwachukwu Placidus, to a cumulative 121 years imprisonment for diverting fixed deposit funds of a customer to the tune of N112,100,000 for his personal use.

“In the course of trial, the EFCC, through its counsel, Mainforce Adaka Ekwu presented four witnesses and tendered several relevant documents which were admitted in evidence.

“Justice Odili held that the prosecution proved its case beyond reasonable doubt and sentenced the convict to nine years imprisonment on count 3, 4 years on count 4 and 9 years on counts 5 to 16 respectively but was discharged on counts 1 and 2. The sentences shall run concurrently.

“The court further ordered the convict to restitute the said sum to his victim, Idemili Microfinance Bank.”