FIDELIS Egueke, erstwhile branch manager of a branch of Zenith Bank PLC in Asaba, Delta State, has been convicted and sentenced to six months imprisonment by an Asaba, Delta State, Chief Magistrate’s Court for obtaining the sum of 46 900 USD by pretence.
The convict, who last worked with the Asaba, Delta State branch of Zenith Bank Plc, is accused of alleged financial fraud.
The court presided over by Chief Magistrate Callistus Isioma Moeteke convicted and sentenced Egueke after pronouncing him guilty of a count charge preferred against him by the Police.
The prosecutor, Raphael Ogechi Eze of the State Criminal Investigation Department (SCID) Asaba Police Headquarters, Delta State, had dragged Egueke before the court in a charge with suit number CMA/295c/2024.
During the trial of the case, the prosecutor informed the court that the convicted bank manager fraudulently received the sum of $46 900 USD by using two Certificates of Occupancy (CofO) as collateral, knowing full well that one of the land titles did not belong to him.
The prosecutor further informed the court that the convicted former manager of Zenith Bank Plc, Asaba branch, upon receiving the money, converted same to personal use, refused, failed and never paid back the money to the victim as promised.
He also informed the court that one of the CofOs used as collaterals was fake.
He informed the court that the illegal actions of the ex-bank manager contravened Section 419 of the Criminal Code Law, Cap C21, Vol.1 Laws of Delta State of Nigeria, 2006.
But the convicted banker denied the offence and pleaded not guilty to the charge.
Based on his not-guilty plea, he was admitted to bail by the court.
Prior to his trial before the court, he was released on administrative bail to Agboro Oghenero, the then General Manager of the Asaba Delta State branch of Keystone Bank, When he was invited and charged by the Police.
The convicted banker, in his defence, told the court that he paid back the money to the victim but failed to show proof of such payment to the court.
In determining the charge against the convicted banker, Chief Magistrate Moeteke held that the prosecution had proved its case against the banker beyond reasonable doubt.
Chief Magistrate Moeteke consequently convicted the banker and sentenced him to six months imprisonment.
The Chief Magistrate, however, ordered the convicted bank manager to pay the sum of N350,000 as a fine option in lieu of the jail term.
The court also ordered the convict to pay the sum of N30 million as restitution.
The charge against the convict reads: “That you Fidelis Egueke ‘M’ sometime in the year 2016 at Asaba in the Asaba Magisterial district did obtain credit facility in the sum of Forty-Six Thousand and Nine Hundred Dollars ($46,900), Naira equivalent, Sixty Million Naira (N60, 000, 000.00) for Mrs. Blessing Equeke ‘F’ and Master Chukwubuikem Fidelis Equeke ‘m’ from one Chief (Dr.) Jude Ndudi by presenting to him Certificates of Occupancy No. DTSR 13,338 and DTSR 13425 of parcels of land as collateral for the credits, which you later dispose of the land covered by DTSR 13,338 after using it as a collateral for the credit facilities and the other land covered by DTSR 13425 does not also belong to you as at the time you used as collateral to obtain the credit facilities, a presentation you knew to be false and thereby committed an offence punishable under Section 419 of the Criminal Code Law, Cap C21, Vol.1 Laws of Delta State of Nigeria, 2006.”
It will be recalled that the convicted bank manager is also being tried before a Lagos Federal High Court by the operatives of the Force Criminal Investigation Department (Force CID) Annex Alagbon-Ikoyi Lagos.
He is standing trial before Justice Alexander Oluseye Owoeye on charges bordering on alleged conspiracy, forgery, obtaining money by false pretence and fraud of N179.498 million.
Eighteen-Eleven Media