N19.2 bn Fraud: Appeal Court Affirms Defunct FinBank Director, Okey Nwosu’s Conviction
LAGOS JUNE 9TH (NEWSRANGERS)-Attempt by the former Managing Director of the defunct FinBank Plc, Mr. Okey Nwosu and Dayo Famoroti to set aside their conviction by Justice Lateefa Okunnu of the Lagos High Court literally hit the rock yesterday 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.
Economic And Financial Crime Commission (EFCC) in a statement signed by Wilson Uwujaren
Head, Media & Publicity of the Commission sighted by NewsRangers however disclosed that 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.
Recalled that 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.
Short URL: https://newsrangers.com/?p=89053
Posted by News Rangers
on Jun 9 2022. Filed under National.
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