Nwachukwu Placidus, the former manager of First City Monument Bank (FCMB) of the Onitsha branch, was found guilty of embezzling N112,100,000 (one hundred and twelve million, one hundred thousand naira only) from a customer’s fixed deposit accounts for his own use. He was given a total term of 121 years in prison.
Following Placidus’ arraignment by the Enugu Zonal Command of the Economic and Financial Crimes Commission (EFCC) on Tuesday, March 27, 2018, Justice S. N. Odili of the Anambra State High Court in Onitsha rendered the decision on Friday.
Forgery, theft, gaining by false pretense, and uttering were among the 16 counts that the prisoner was charged with, according to EFCC spokeswoman Dele Oyewale. One of the allegations against him stated, “Nwachukwu Placidus between February 2009 and November 2014 in Onitsha, Anambra State, within the jurisdiction of the Anambra State High Court of Nigeria, with intent to defraud, obtained the sum of N112,100,000 (One Hundred and Twelve Million, One Hundred Thousand Naira only) from Idemili Microfinance Bank under the false pretense that you have placed the said money in a fixed deposit account with First City Monument Bank PLC for it, which pretense you knew to be false and you thereby committed an offence.”
“After the charges were read to him, he entered a not guilty plea, starting his trial.
“The EFCC, represented by Mainforce Adaka Ekwu, its attorney, called four witnesses and produced various relevant papers as evidence during the trial.
“The prosecution established its case beyond a reasonable doubt,’ Justice Odili declared in his verdict. The offender was given nine years in jail for count three, four years for count four, and nine years for charges five through sixteen, respectively. On counts 1 and 2, he was found not guilty. Concurrent service of these sentences will take place.
“The defendant was further ordered by the court to return the money to Idemili Microfinance Bank, the victim.
“A petitioner, Idemili Microfinance Bank LTD, claimed that N112,100,000 was entrusted to him as the branch manager of FCMB in Onitsha for a fixed deposit. This was the beginning of Placidus’ voyage to the Correctional Center. The bank asserted that it had no knowledge of the money when the petitioner attempted to cancel and remove the deposit.
“Upon receiving the petition, the EFCC launched an investigation which revealed that the defendant misappropriated the money for personal use and issued a counterfeit fixed Deposit Certificate to the petitioner.”
