Nwachukwu Placidus, a former manager at First City Monument Bank (FCMB) in Onitsha, has been handed a total of 121 years in prison for fraudulent activities. The court found him guilty of diverting N112.1 million from a customer’s fixed deposit funds for personal gain.
According to a statement by the Economic and Financial Crimes Commission (EFCC) on Saturday, Placidus was arraigned before Justice S. N. Odili of the Anambra State High Court on Tuesday, March 27, 2018. He faced 16 charges, including forgery, stealing, obtaining by false pretense, and uttering.
The case originated from a complaint by the bank, alleging that Placidus, while serving as the branch manager of FCMB in Onitsha, received the funds for a fixed deposit but failed to remit them as claimed.
Upon investigation, the EFCC discovered that Placidus diverted the money for personal use and provided a fake fixed deposit certificate to the bank. As a result, he has been sentenced to serve time in a correctional center.
During the trial, the EFCC, through its counsel, Mainforce Adaka Ekwu, presented four witnesses and tendered several relevant documents, which were admitted in evidence.
In the judgment, Justice Odili sentenced Placidus to nine years imprisonment on one count, four years on another, and nine years each on the remaining counts. He was acquitted on two counts, with the sentences to run concurrently.
Efforts to reach the Kaduna State Police Command to comment on the matter proved abortive at the time of filing this report.
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