Ex-Rep member, 3 Sterling bank officials convicted of N212m fraud

Mansur Ali Mashi, a former member of the House of Representatives representing the Mashi Dutsi federal constituency of Katsina State, has been convicted of N212 million fraud.

The former lawmaker was convicted alongside three Sterling Bank officials who aided the fraud.

Justice Sale Musa Shuaibu of the Federal High Court, Kaduna, on Thursday, convicted Manshi on eight counts, including conspiracy and obtaining by false pretences.

Mashi was also alleged to have sold properties taken from him by the court through an interim forfeiture order.

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While the court reserved judgment on the ex-lawmaker, each of the three bank officials was sentenced to five years in prison.

The news of the conviction was shared in a release by the Economic Financial Crime Commission (EFCC) on Thursday evening.

According to the release, the convicted lawmaker was prosecuted by the EFCC for using fictitious companies to obtain a N212,439,552 loan from Sterling Bank.

“Upon arraignment, the defendants had pleaded not guilty to the charges preferred against them, and the case proceeded to trial. In the course of the trial, the matter suffered several setbacks due to the elevation or retirement of the trial judges. But the prosecution called six witnesses and tendered several exhibits to prove the case against the defendants,” the EFCC said.

“The 2nd defendant Abdulmumin Mustapha who is the former branch manager of Sterling Bank was convicted on counts 1 to  15 and sentenced to five years’ imprisonment on each count without option of fine. The court further ordered the 2nd defendant to restitute Sterling Bank in the sum of N40,000,000 (Forty Million Naira).”