Couple Charged With N203million Bank Fraud

The Federal High Court in Lagos will on May 26 begin the trial of a couple – George Emeka Nwachukwu and his wife Oluchi – in connection with an alleged N203,865,708.08 million bank fraud.

Justice Peter Lifu fixed the date following the Nwachukwus’ arraignment on April 29, by the Police Special Fraud Unit, Ikoyi, Lagos.

The duo was brought before the judge alongside a third defendant, one Abidemi Thomas, on a charge marked FHC/L/172c/2022.

The five counts against the trio were conspiracy, obtaining by false pretence, unlawful conversion, and fraud.

According to the SFU, the N203,865,708.08 belonged to Standard Chartered Bank Nigeria Limited.

Prosecution counsel Mr. Justine Enang alleged that the defendants committed the offences between January and December, 2020, at Standard Chartered Bank’s Aromire Branch, Ikeja, Lagos.

The prosecution claimed that the couple fraudulently obtained the sum in connivance with some staff of the bank.

It was further alleged that the trio fraudulently converted N20 million each from the sum, to their use, knowing full well that it was was the proceeds of an unlawful act.

The alleged offences, the prosecutor added, offended Sections 8(a) and 1(1)(a) and 1(3) of the Advance Fee Fraud and other Fraud Related Offences Act, as well as Section 15(2)(b) of the Money Laundering (Prohibition) Act, 2011 as Amended in 2012.

Each defendant pleaded “not guilty.”

Justice Lifu admitted each defendant to bail in the sum of N10million with two sureties in like sum and adjourned till May 26, for trial.