Ex-MD arraigned before court for N1billion fraud

The former Managing Director of Mainstreet Bank Registrars Limited, Lagos, identified as Oluwadare Akingbola, and four others have been arraigned before a Lagos Magistrate Court over alleged theft of N1.040 billion from the account of Mainstreet Bank Registrars Limited.

The accused were first arrested by the operatives of the Force Criminal Investigation and Intelligence Department, FCIID, Alagbon Close, Ikoyi, Lagos and arraigned before an Igbosere Magistrate court Lagos in separate charges in May, 2017 for the same offence.

They all pleaded not guilty to the alleged crime and were granted bail in the sum of N5 milion each with two sureties each in like sum.

In the new amended seven count charge No. H/20/2017, police prosecutor, ASP Henry Obiazi informed the court that Oluwadare Akingbola, Suleiman Adedoku, 46; Adegbami Adegoke Elijah, 43; Patrick Okoh, 35; Dauda Tawo Oluwashola, 43, and a woman, Udoka Martins Uwah still at large and others still at large committed the offence between December, 2016 and February, 2017 at Mainstreet Bank Offices in Gbagada and Maryland, Lagos.

Obiazi told the court that Akingbola connived with Adedokun and Udokah Martins Uwah still at large to steal the sum of N760 million from the account of Mainstreet Bank Registrars Limited.

He alleged that Akingbola also conspired with Adedokun, Oluwashola, Okoh and others still at large to withdrew the sum of N280 million from the account of Mainstreet bank Registrar without the authorities of the bank and shared the money among themselves.

Obiazi also alleged that the secret became open when the management of Mainstreet Bank Registrars Limited audited their account and uncovered the fraud.

He said the offences the accused person committed are punishable under section 411, 287, (5) (A) (9) (C) and 410 of the criminal laws of Lagos State.

All the accused again pleaded not guilty to the charges in the open court and Magistrate Mrs. O.G Oghre ordered that the defendants should continue to enjoy the previous bail granted them and adjourned the case till 13 July, 2017 for mention.

Source: Gistsville
Ex-MD arraigned before court for N1billion fraud

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