Banking Betrayal: Zenith Manager Jailed for $46,900 Fraud

A Chief Magistrate Court has sentenced Fidelis Egueke, a former manager at Zenith Bank, to six months in prison for fraudulently obtaining $46,900. Chief Magistrate Callistus Isioma Moeteke found Egueke guilty after a thorough examination of the case brought against him by the police.

The prosecution, led by Raphael Ogechi Eze from the State Criminal Investigation Department (SCID), presented the case under charge number CMA/295c/2024. The court heard that Egueke used two Certificates of Occupancy (CofOs) as collateral for the loan, fully aware that one of the land titles did not belong to him. Despite using the funds for personal and family expenses, Egueke failed to repay the victim as agreed, and one of the CofOs was revealed to be fake.

Egueke maintained his innocence throughout the trial, pleading not guilty and asserting that he had repaid the victim, although he failed to provide any evidence to substantiate his claim. Initially granted bail, he was released to AGBORO OGHENERO, then General Manager of Keystone Bank’s Asaba branch, while awaiting trial.

After a careful review of the evidence, Chief Magistrate Moeteke ruled that the prosecution had proven its case beyond a reasonable doubt. As a result, Egueke was convicted and sentenced to six months in prison. The court also imposed a fine of N350,000 as an alternative to incarceration, along with a restitution order of N30 million.

The charge against Egueke detailed that he had obtained the credit facility in 2016 for Mrs. Blessing Equeke and Master Chukwubuikem Fidelis Egueke by misrepresenting the ownership of the collateralized properties, which constitutes an offense under Section 419 of the Criminal Code Law of Delta State.

In a separate legal matter, Egueke is also facing charges in a Federal High Court in Lagos for alleged conspiracy, forgery, and obtaining money by false pretenses, with the fraud amounting to N179.498 million. The proceedings in that case are being overseen by Justice Alexander Oluseye Owoeye.

This ruling serves as a reminder of the judiciary's commitment to combating financial crimes and upholding the law in Nigeria.

https://catachnewsng.com/2024/10/25/banking-betrayal-zenith-manager-jailed-for-46900-fraud/

WithinCity:
Banking Betrayal: Zenith Manager Jailed for $46,900 Fraud

A Chief Magistrate Court has sentenced Fidelis Egueke, a former manager at Zenith Bank, to six months in prison for fraudulently obtaining $46,900. Chief Magistrate Callistus Isioma Moeteke found Egueke guilty after a thorough examination of the case brought against him by the police.

The prosecution, led by Raphael Ogechi Eze from the State Criminal Investigation Department (SCID), presented the case under charge number CMA/295c/2024. The court heard that Egueke used two Certificates of Occupancy (CofOs) as collateral for the loan, fully aware that one of the land titles did not belong to him. Despite using the funds for personal and family expenses, Egueke failed to repay the victim as agreed, and one of the CofOs was revealed to be fake.

Egueke maintained his innocence throughout the trial, pleading not guilty and asserting that he had repaid the victim, although he failed to provide any evidence to substantiate his claim. Initially granted bail, he was released to AGBORO OGHENERO, then General Manager of Keystone Bank’s Asaba branch, while awaiting trial.

After a careful review of the evidence, Chief Magistrate Moeteke ruled that the prosecution had proven its case beyond a reasonable doubt. As a result, Egueke was convicted and sentenced to six months in prison. The court also imposed a fine of N350,000 as an alternative to incarceration, along with a restitution order of N30 million.

The charge against Egueke detailed that he had obtained the credit facility in 2016 for Mrs. Blessing Equeke and Master Chukwubuikem Fidelis Egueke by misrepresenting the ownership of the collateralized properties, which constitutes an offense under Section 419 of the Criminal Code Law of Delta State.

In a separate legal matter, Egueke is also facing charges in a Federal High Court in Lagos for alleged conspiracy, forgery, and obtaining money by false pretenses, with the fraud amounting to N179.498 million. The proceedings in that case are being overseen by Justice Alexander Oluseye Owoeye.

This ruling serves as a reminder of the judiciary's commitment to combating financial crimes and upholding the law in Nigeria.

https://catachnewsng.com/2024/10/25/banking-betrayal-zenith-manager-jailed-for-46900-fraud/

Is that I'm not thinking straight?

1. Someone was convicted of fraud of N46,900 worth N81.7m today
2. The court orders restitution of N30m and N350k to avoid jail term of 6months?


Lol... Do everything legal you can to make money. Nigeria constitution governs only the porr.

IamtheTruth1:


Is that I'm not thinking straight?

1. Someone was convicted of fraud of N46,900 worth N81.7m today
2. The court orders restitution of N30m and N350k to avoid jail term of 6months?


Lol... Do everything legal you can to make money. Nigeria constitution governs only the porr.

The bank must have recovered the stolen money back...if not all substantial amount.

Bank no dey joke with there money ooo.

WithinCity:
Banking Betrayal: Zenith Manager Jailed for $46,900 Fraud

A Chief Magistrate Court has sentenced Fidelis Egueke, a former manager at Zenith Bank, to six months in prison for fraudulently obtaining $46,900. Chief Magistrate Callistus Isioma Moeteke found Egueke guilty after a thorough examination of the case brought against him by the police.

The prosecution, led by Raphael Ogechi Eze from the State Criminal Investigation Department (SCID), presented the case under charge number CMA/295c/2024. The court heard that Egueke used two Certificates of Occupancy (CofOs) as collateral for the loan, fully aware that one of the land titles did not belong to him. Despite using the funds for personal and family expenses, Egueke failed to repay the victim as agreed, and one of the CofOs was revealed to be fake.

Egueke maintained his innocence throughout the trial, pleading not guilty and asserting that he had repaid the victim, although he failed to provide any evidence to substantiate his claim. Initially granted bail, he was released to AGBORO OGHENERO, then General Manager of Keystone Bank’s Asaba branch, while awaiting trial.

After a careful review of the evidence, Chief Magistrate Moeteke ruled that the prosecution had proven its case beyond a reasonable doubt. As a result, Egueke was convicted and sentenced to six months in prison. The court also imposed a fine of N350,000 as an alternative to incarceration, along with a restitution order of N30 million.

The charge against Egueke detailed that he had obtained the credit facility in 2016 for Mrs. Blessing Equeke and Master Chukwubuikem Fidelis Egueke by misrepresenting the ownership of the collateralized properties, which constitutes an offense under Section 419 of the Criminal Code Law of Delta State.

In a separate legal matter, Egueke is also facing charges in a Federal High Court in Lagos for alleged conspiracy, forgery, and obtaining money by false pretenses, with the fraud amounting to N179.498 million. The proceedings in that case are being overseen by Justice Alexander Oluseye Owoeye.

This ruling serves as a reminder of the judiciary's commitment to combating financial crimes and upholding the law in Nigeria.

https://catachnewsng.com/2024/10/25/banking-betrayal-zenith-manager-jailed-for-46900-fraud/

6 MONTHS or 350k + 30M for a $46K dolls? wth aside 179M ? cheap price i say