The Port Harcourt Zonal office of the Economic and Financial Crimes Commission, (EFCC), on Thursday arraigned a fake Managing Director of a Micro Finance Bank and Cosmopolitan Micro Finance Bank limited, Belema Abibo for obtaining about N100 million under false pretences.
The suspect was dragged before Justice M. L Abubakar of the Federal High Court sitting in Port Harcourt, Rivers State, on two count charges.
The suspect was arrested when a case of obtaining by false pretences (OBT) and fraudulent diversion of funds was raised against them by a petitioner
According to the petitioners, Olusegun Akingbesote and Alpha Integrated Services Limited, sometimes in 2016, some representatives of Cosmopolitan Micro Finance Bank approached and persuaded him to deposit funds in the bank as a fixed deposit, with a promise of monthly interest of two per cent (2%), after a tenor of 360 days.
The petitioner alleged that he deposited and fixed the sum of N100,000,000.00 in the bank, and upon maturity, the bank refused to refund neither the capital nor the accrued interest, to him, adding that the bank representatives suddenly became elusive.
According to EFCC’s investigation showed that the first defendant, Abibo, a native of Okrika in Okrika Local Government Area, of Rivers State, is a Managing Director of Cosmopolitan Micro-Finance Bank limited and that the victim actually invested a sum of N100,000,000.00 in a fixed deposit in the bank.
Further investigations revealed that the money was transferred into an account number 0565583030, belonging to Cosmopolitan Micro Finance Bank, domiciled in FCMB.
The Head, Media and Publicity, of EFCC, Dele Oyewale, said the offence is contrary to Section 1 (1) of the Advance Fee Fraud and Other Related Offences Act 2006, and punishable under Section 1 (3) of the same Act. After the charge was read to the defendants, he pleaded not guilty.
Prosecuting counsel, C. O. Oni, in view of the plea of the defendants, prayed the court to fix a date for commencement of trial.
In the same vein, counsel to the defendants, E. K Krokeyi, asked the court for a short adjournment to enable him file an application for the bail of the first defendant.
Justice Abubakar, however, ordered that the first defendant be remanded in EFCC custody and adjourned to June 11, 2020, for consideration of the bail application.