Crime

Microfinance Bank Manager bags four years over N4.8 million fraud

The Managing Director of Workman Microfinance Bank in Bauchi State, Sarita Hello has been convicted and sentenced to four years imprisonment for a fraud involving over N4.8 million by the Bauchi State High Court.

Pelican Brief

Penpushing reports, the judge, Justice M.M Abubakar convicted Hello who was arraigned by the Economic and Financial Crimes Commission (EFCC) on two counts of misappropriation and forgery

The Head Media and Publicity of the agency Wilson Uwujaren, said the anti-graft agency had alleged in the charges filed against her that the offences were contrary to section 308 and 363 of the Penal Code Law and punishable under section 309 and 364 of the same law.

‘She was said to have sometime in 2020 as the Managing Director of the Microfinance Bank, “misappropriated the sum of N4,786,700.00 (Four Million, Seven Hundred and Eighty-six Thousand, Seven Hundred Naira)”.

Penpushing further reports that, the commission alleged that she used the password of the Head, Credit Unit of the bank, to gain access to systems and created fictitious names, generated fraudulent loan requests, approved and paid the same to herself.

”When confronted with evidence of her crime, she pleaded guilty to the charges brought against her and was sentenced to five years imprisonment. The defendant was ordered by the court to pay the sum of N3,786,700 (three million, seven hundred and eighty six thousand, seven hundred naira) to the bank through the EFCC’,Uwujaren said.

“The defendant was ordered by the court to pay the sum of N3,786,700 (three million, seven hundred and eighty-six thousand , seven hundred naira) to the bank through the EFCC,” the statement added.

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