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GTB ex-staff bags 7yrs jail term for N50m Fraud

By Monsurudeen Olowoopejo

A  Guaranty Trust Bank (GTB) former staff, Onyekachi Nwosu, has been sentenced to 7years imprisonment by a Federal High Court sitting in Enugu State over N50 million fraud.

Nwosu was sentenced by the Justice Dugbo Oghoghorie after he was found guilty for abusing his office, using forged documents to induce his bank to grant N50 million loan facility, part of which he diverted to personal use.

Investigations conducted by the Economic and Financial Crimes Commission (EFCC), Enugu, further revealed that the convict, as an account officer to Anyaso Chinedu, owner of Floxy Aluminium Odiofele Products Limited, induced his former employer, GTB, with forged documents into granting a loan of N50 million to Floxy Aluminium Odiofele Products Limited.

The documents;  “An application to Morgage, Consent to Morgage and Tripartite Legal Mortgage”,  deceived GTB into believing that one Adebimpe Foluke pledged her property as collateral for the loan granted to Floxy Aluminiun Product Ltd.

Findings further revealed that the convict benefitted N40 million out of the fraudulent loan by directly withdrawing it from the account of Floxy Aluminium Odiofele Products Limited.

Justice Oghoghorie ordered the convict to also restitute the sum of N40 million to GTB and, return the original Certificate of Occupancy to Foluke.

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