Two fraudsters arraigned in the court of law have pleaded guilty to the offense with a clear chance of spending years behind bars as a penalty for the act.
Stanley Odjighere and Igho Timothy Okpekereke, who in 2014 defrauded a new generation bank of N210 million, have pleaded guilty to a 2-count charge on money laundering brought against them by the Economic and Financial Crimes Commission before Justice M.S Abubakar of the Federal High Court, sitting in Warri, Delta State, according to Premium Times.
The duo sometime in 2014 at the Ecobank PLC Oghara branch, in Delta State, cashed on a system glitch leading to malfunctioning of the Quickteller facility in the bank’s ATM to defraud the banks by transferring monies to several accounts. All the transactions involved were failed transactions but the monies transferred were not reversed from the customer’s accounts.
Over Two Hundred and Ten Million Naira was transferred into their First Bank accounts, which they laundered through other peoples bank accounts and later converted to their personal use.
Count one of the charge reads, “that you Stanley Odjighere, Michael Jesuovomine Edoja (now at large) and others at large sometime in 2014 at Oghara, Delta State, within the jurisdiction of this honorable Court, did transfer and convert to your use over N130,753,674.09 (One Hundred and Thirty Million Seven Hundred and Fifty Three Thousand Six Hundred and Seventy Four Naira Nine Kobo) only, being money you fraudulently stole from Ecobank and which said sum you applied same into the purchase of cars, plot of land and development thereof, with the aim of disguising the illegal origin of the money and thereby committed an offence contrary to section 15 (1) (a) of the Money Laundering (Prohibition) Act No. 11, 2011 (as amended) and punishable under section 15 (2) of the same Act”.
Count two reads, “that you Igho Timothy Okpekekereke, Michael Jesuovomine Edoja (now at large) and others now at large sometime in 2014 at Oghara, Delta State, within the Jurisdiction of this Honorable Court , did transfer and convert to your use over N87, 299,000.00 (Eighty Seven Million Two Hundred and Ninety Nine Thousand Naira ) only, being money you fraudulently stole from Ecobank and which said sum you applied same into the purchase of cars, plots of land and development thereof, with the aim of disguising the illegal origin of the money and thereby committed an offence contrary to section 15 (1) (a) of the Money Laundering (Prohibition) Act No. 11, 2011 (as amended) and punishable under section 15 (2) of the same Act”.
Count one of the charge reads, “that you Stanley Odjighere, Michael Jesuovomine Edoja (now at large) and others at large sometime in 2014 at Oghara, Delta State, within the jurisdiction of this honorable Court, did transfer and convert to your use over N130,753,674.09 (One Hundred and Thirty Million Seven Hundred and Fifty Three Thousand Six Hundred and Seventy Four Naira Nine Kobo) only, being money you fraudulently stole from Ecobank and which said sum you applied same into the purchase of cars, plot of land and development thereof, with the aim of disguising the illegal origin of the money and thereby committed an offence contrary to section 15 (1) (a) of the Money Laundering (Prohibition) Act No. 11, 2011 (as amended) and punishable under section 15 (2) of the same Act”.
Count two reads, “that you Igho Timothy Okpekekereke, Michael Jesuovomine Edoja (now at large) and others now at large sometime in 2014 at Oghara, Delta State, within the Jurisdiction of this Honorable Court , did transfer and convert to your use over N87, 299,000.00 (Eighty Seven Million Two Hundred and Ninety Nine Thousand Naira ) only, being money you fraudulently stole from Ecobank and which said sum you applied same into the purchase of cars, plots of land and development thereof, with the aim of disguising the illegal origin of the money and thereby committed an offence contrary to section 15 (1) (a) of the Money Laundering (Prohibition) Act No. 11, 2011 (as amended) and punishable under section 15 (2) of the same Act”.
In view of their plea, the prosecution counsel, G. O Edobor asked for a date for the review of the case and sentencing.
Justice Abubakar adjourned the matter to January 15, 2016 for sentencing of the defendants and ordered that they be remanded in prison custody.
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