Justice S. N. Odili of the Anambra State High Court in Onitsha has sentenced a former manager of First City Monument Bank (FCMB) to 121 years in prison for diverting N112.1 million in fixed deposit funds for personal use.
Nwachukwu Placidus was convicted on 14 out of 16 counts of forgery, stealing, obtaining by false pretence, and uttering.
He was accused of diverting the funds between February 2009 and November 2014 and issuing a fake fixed deposit certificate to the victim, Idemili Microfinance Bank.
The Economic and Financial Crimes Commission (EFCC) prosecuted the case, presenting four witnesses and tendering several documents as evidence.
Justice Odili ruled that the prosecution proved its case beyond reasonable doubt and sentenced Placidus to 9 years on count 3, 4 years on count 4, and 9 years on counts 5-16, to run concurrently.
The court also ordered Placidus to restitute the N112.1 million to Idemili Microfinance Bank.
His journey to prison began when the bank petitioned the EFCC, alleging that he had diverted the funds meant for fixed deposit.
Investigations revealed that Placidus had indeed diverted the money for personal use and issued a fake fixed deposit certificate.
