Court sentences ex-banker to 7 years imprisonment over N10m fraud

Ajiboye Aremu

Court sentences ex-banker to 7 years imprisonment over N10m fraud

Justice Adenike Akinpelu of the Kwara State High Court in Ilorin has sentenced a former Banker, Ajiboye Aremu to seven years imprisonment without an option of fine for obtaining money by false pretense.

A statement issued by the anti-graft body on Thursday said the Ilorin Zonal Command of the Economic and Financial Crimes Commission, EFCC, had on February 17, 2020 arraigned Ajiboye on a one count charge of obtaining money by false pretences.

The defendant however, pleaded not guilty to the charge. In the course of the trial, the prosecution counsel, Andrew Akoja called three witnesses to prove its case.

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Delivering judgement on Wednesday, April 19, Justice Akinpelu held that the prosecution had proved its case beyond reasonable doubt and pronounced Ajiboye guilty as charged.

“He sentenced the defendant to seven years imprisonment without an option of fine and ordered that he (Ajiboye) pay the sum of Eight Million Naira to the victim.

” The convict, while working with a new generation bank received the sum of N10, 000,000.00 (Ten Million Naira) for placement in a fixed deposit account but diverted the money to his personal use,” the statement said.

In another development, Justice Akinpelu also sentenced one Adeniyi Damilare to six months imprisonment each on two counts bordering on cheating by personation.

The Court however gave him an option of fine of N100, 000 (One Hundred Thousand Naira Only) on each count and ordered that the phone and laptop which he used to perpetrate the crime as well as the sum of $105 which he raised as restitution be forfeited to the Federal Government.