EFCC stamped indelible marks on me, says banker acquitted of N855m fraud

By Precious Igbonwelundu and Halima Balogun

For seven years, Sunny Obazee, an investment banker faced humiliation, rejection and prosecution for alleged N855 million fraud at defunct Platinum and Habib Bank (PHB) which he joined as Divisional Director Investment Banking in December 2007.

Obazee was arraigned and tried by the Econonic and Financial Crimes Commission (EFCC) alongside Anayo Nwosu, Olajide Oshodi, Ashok Israni (Indian businessman), Sunny Obazee, Keystone Bank and NULEC Industries Limited on 13 counts of conspiracy, fraudulent diversion, obtaining under false pretences and theft before Justice Kudirat Jose of the Lagos High Court, Igbosere in 2011.

But on December 9, Justice Jose discharged and acquitted Obazee in a judgement that sent Nwosu, Oshodi and Israni to five years in prison each on seven counts; a fine of N20million to the federal government against Keystone Bank and Nulec Industries on three counts, as well as restitution of N395million to the victim of the…

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