A former banker formerly employed at First City Monument Bank (FCMB), Nwachukwu Placidus, has been sentenced to 121 years in prison after being found guilty of fraudulently diverting over N112 million from a customer’s fixed deposit for personal use.
According to the Economic and Financial Crimes Commission (EFCC), which acted as the prosecutor in the case, Placidus was arraigned before Justice S. N. Odili of the Anambra State High Court on Tuesday, March 27, 2018. He faced charges including forgery, stealing, and obtaining by false pretense.
The charges stemmed from allegations by FCMB that while serving as the Branch Manager in Onitsha, Placidus received funds for a fixed deposit but did not deposit them as claimed.
An investigation by the EFCC revealed that he diverted the money for personal use and provided a fake fixed deposit certificate to the bank.
Placidus pleaded not guilty to the charges, but Justice Odili handed down varying prison terms on fourteen counts of the charges, totaling 121 years.
However, he was acquitted on two charges, and the sentences will run concurrently.
