Ex-Bank Manager Handed 18 Years In Prison After Using Customer’s N219m For Houses, Ponzi
The Economic and Financial Crimes Commission (EFCC) secured the conviction of a former Sterling Bank manager on Tuesday.
Oliver Anidiobi, the convict, was the Account Relationship Officer at OHHA Microfinance Bank.
After a 32-count charge prosecution, he was sentenced by Justice C. O. Ajah of the Enugu State High Court in Enugu. The allegations amounted to N219 million in forgery and theft.
The offender, who was arraigned on Tuesday, May 7, 2019, utilized his position to persuade the Microfinance Bank to deposit the aforementioned money through him.
To fool the microfinance bank, he placed the monies in a fixed deposit account and falsified a deposit certificate, while diverting the funds for personal use.
Anidiobi built a block of 5 flats, acquired several plots of land along the Enugu-Port Harcourt Expressway, an uncompleted four-bedroom bungalow at Centenary Estate, Enugu.
He further made an investment of N65million in a Ponzi Scheme called “Let’s Partner with You” owned by one Patrick Nwokike.
Prosecution counsel Michael Ani presented 5 witnesses and tendered 75 exhibits while the defendant testified for himself.
Justice Ajah held that Anidiobi did not deny nor challenge the allegations made by the EFCC.
“Any evidence not challenged is admitted as true. I am duty-bound to establish the evidence presented by the prosecution. The evidence is strong and compelling to grant conviction”, he said.
The judge sentenced Oliver Anidiobi to 4 years imprisonment on counts 1-14 without an option of a fine; 4 years on counts 15-17 and 8 years on counts 28-32 without an option of fine. The sentences are to run concurrently.
The court further ruled that an estate valuer is to evaluate Anidiobi’s properties at his village, Centenary City and Premier Layout, New Artisan, Enugu.
This will help determine their value so that they can be sold and the proceeds paid in restitution to OHHA Microfinance Bank.