Former First City Monument Bank Manager, Nwachukwu Placidus, has been handed a staggering 121-year prison sentence by Justice S. N. Odili of the Anambra State High Court in Onitsha. This ruling comes after Placidus was found guilty of embezzling N112,100,000 from a customer’s fixed deposit account for personal gain.
Placidus faced a litany of charges including forgery, stealing, obtaining by false pretense, and uttering, as brought forth by the Economic and Financial Crimes Commission (EFCC), Enugu Zonal Command. Despite pleading not guilty to the 16-count charges back in March 2018, the evidence presented during the trial left little room for doubt.
READ ALSO:
Don’t Trade In Crypto, Opay, PalmPay, Others Warn Customers
In a statement released on its Facebook page, the EFCC disclosed the outcome of the trial, highlighting the conviction and hefty sentence handed down by Justice Odili. The court found Placidus guilty on multiple counts, resulting in varying prison terms, with the total summing up to 121 years. However, he was acquitted on two counts.
Additionally, Justice Odili ordered Placidus to reimburse the misappropriated funds to Idemili Microfinance Bank, the victim of his fraudulent activities. This landmark judgment serves as a stern warning against financial misconduct and underscores the EFCC’s commitment to combating corruption within the banking sector.