N1.6bn fraud: EFCC reveals how suspended bank manager used son’s account to launder funds

N1.6bn fraud: EFCC reveals how suspended bank manager used son’s account to launder funds

N1.6bn fraud: EFCC reveals how suspended bank manager used son

The Financial and Monetary Crimes Fee, on Tuesday, September 18, 2018, instructed Justice Muhammad Idris of the Federal Excessive Court docket sitting in Ikoyi, Lagos, how a suspended Department Manager of Heritage Bank Plc in Yenogoa, Iwejuo Nna Joseph, allegedly hid funds by his son’s account.

The defendant was arraigned alongside Dudafa Waripamo-Owei, a former Senior Particular Adviser on Home Issues to former President Goodluck Jonathan, on June 11, 2016, on a 23-count cost of conspiracy to conceal proceeds of crime to the tune of N1.6 billion.

Whereas cross-examining Joseph who gave proof in his defence, the prosecuting counsel, Rotimi Oyedepo, requested him to confirmed that he deposited numerous sums of cash together with N9.5m on January 22, 2014 to his son’s bank account.

In response, Joseph, who disclosed that his son was born on December 28, 2006 and that he opened an account for him quickly afterwards, answered within the affirmative. The defendant additionally confirmed depositing a sum of N5million in his son’s account on February 3, 2014, amongst others.

When requested the place the cash got here from, the defendant stated it should have been from the account of Ebiwise Sources owned by his household. He stated a sum of N9million, for example, was transferred from his son’s account to the Ebiwise Sources account,  which he and his spouse collectively function. The defendant additional acknowledged that his firm as soon as bought a contract from the Bayelsa State authorities to assemble a Sport Academy constructing.

“We submitted an utility for the job. There have been so many buildings and so they allotted one to us. Our firm was paid N41million for the contract by the Bayelsa State authorities,” he stated.

Requested if he disclosed to his bank that he was additionally a authorities contractor, Joseph answered within the adverse, including that “I didn’t disclose it as a result of it was not vital. However my colleagues knew concerning the household enterprise.” .


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