Connect with us

Hi, what are you looking for?

Metro

Appeal Court Affirms Okey Nwosu’s Conviction Over ₦10.9 Billion Fraud

Attempt by the former managing director of the defunct FinBank Plc, Mr. Okey Nwosu[s][/s] and Dayo Famoroti to set aside their conviction by Justice Lateefa Okunnu of the Lagos High Court literally hit the rock today June 8, 2022 as the Court of Appeal sitting at Tafawa Balewa Square, Lagos upheld their conviction as well as the three years jail terms slammed on them.

However, the appellate court reduced the restitution order made from Eighteen Billion Naira to Ten Billion Naira on the grounds that the bank (FinBank Plc.) had recovered about Eight Billion Naira.

Justice Okunnu, had in January 2021 convicted and sentenced Okey Nwosu and Famoroti to three years imprisonment over N19.2 billion fraud.

The Economic and Financial Crimes Commission (EFCC) prosecuted Nwosu alongside Dayo Famoroti, Agnes Ebubedike and Danjuma Ocholi on a 26-count amended charge bordering on stealing and illegal conversion to the tune of N19.2 billion.

The defendants were said to have perpetrated the fraud while they were directors of the bank.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

ad

You May Also Like

Tech

Dr. Krishnan Ranganath, the Regional Executive – West Africa at Africa Data Centres, has been honoured as one of the 50 Most Valuable Personalities...

News

Following recent undersea cable cuts that challenged connectivities in many countries in the West African region, Nigeria has called for a coordinated and multilateral...

Tech

Mr. Oluwaseun Dania, founder and Lead Consultant of Alpha-Geek Technologies, an innovative Information Technology Services company, has been ranked among the 50 Most Valuable...

Tech

S Mobile Group has been recognized by MTN Business as the distinguished recipient of the MTN Enterprise Business Foundation 2024 award.   The award...