According to Reports reaching Oyogist.com, Justice of the Cross River State High Court, Adie A. Onyebueke has issued a 5 Year imprisonment Jail sentence to a certain Mr Augustine Effiong over fraud.
Mr Augustine reportedly hijacked a whopping sum of N27 million, from a microfinance bank, where he was a branch manager.
While carting away the money Gradually from the bank’s vault, Augustine lied that the funds would be used to run contracts for the bank.
The case was further investigated by the Enugu Zonal Office of the Economic and Financial Crimes Commission, (EFCC), and Confirmed true.
The charge read; “That you, Augustine Effiong Bassey (‘m’), sometime between 2010 and 2012 at Uyanga, Cross River State, within the jurisdiction of the High Court of Cross River State.
“With the intent to defraud, stole the sum of N27,300,000 (Twenty-seven Million, Three Hundred Thousand Naira), being property of Ekondo Microfinance Bank Limited, and thereby committed an offence punishable under Section 390 of the Criminal Code law, CAP C16 (VOL 3) of the Laws of Cross River State of Nigeria,2004 and punishable under Section 390(9) of the same Law.”
He further pleaded “not guilty” to the charge, but was later convicted and sentenced to prison, with a N15 million bail returned back to Ekondo Microfinance Bank.
