The former manager at First City Monument Bank (FCMB) in Onitsha, Nwachukwu Placidus, has been sentenced to a total of 121 years in prison for engaging in fraudulent activities.
Placidus was found guilty of diverting the sum of N112.1 million from a customer’s fixed deposit funds for his personal benefit.
According to a statement by the Economic and Financial Crimes Commission (EFCC) on Saturday, Placidus was arraigned before Justice S. N. Odili of the Anambra State High Court on Tuesday, March 27, 2018.
Saving Point Media reports that he faced a total of 16 charges, including forgery, stealing, obtaining by false pretense, and uttering.
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The case originated from a complaint filed by the bank, alleging that Placidus, while serving as the branch manager of FCMB in Onitsha, received the funds for a fixed deposit but failed to remit them as claimed.
Following an investigation by the EFCC, it was discovered that Placidus diverted the money for personal use and provided a fake fixed deposit certificate to the bank.
Placidus pleaded not guilty to the charges when they were read to him.
However, during the trial, the EFCC presented four witnesses and tendered several relevant documents as evidence.
In the judgment, Justice Odili sentenced Placidus to nine years imprisonment on one count, four years on another, and nine years each on the remaining counts.
He was acquitted on two counts, with the sentences to run concurrently.
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