8.4 C
New York
Tuesday, December 3, 2024

Appeal Court Affirms Okey Nwosu’s Conviction

Published:

- Advertisement -

LATEST NEWS

- Advertisement -spot_imgspot_img

Attempt by the former managing director of the defunct FinBank Plc, Mr. Okey Nwosu and Dayo Famoroti to set aside their conviction by Justice Lateefa Okunnu of the Lagos High Court literally hit the rock today June 8, 2022 as the Court of Appeal sitting at Tafawa Balewa Square, Lagos upheld their conviction as well as the three years jail terms slammed on them.

However, the appellate court reduced the restitution order made from Eighteen Billion Naira to Ten Billion Naira on the grounds that the bank (FinBank Plc.) had recovered about Eight Billion Naira.

Justice Okunnu, had in January 2021 convicted and sentenced Okey Nwosu and Famoroti to three years imprisonment over N19.2 billion fraud.

READ ALSO  Ohaneze Disowns Simon Ekpa Says No Leadership Crisis In The Body

The Economic and Financial Crimes Commission (EFCC) prosecuted Nwosu alongside Dayo Famoroti, Agnes Ebubedike and Danjuma Ocholi on a 26-count amended charge bordering on stealing and illegal conversion to the tune of N19.2 billion.

The defendants were said to have perpetrated the fraud while they were directors of the bank.

- Advertisement -spot_img

Hey there! Exciting news - we've deactivated our website's comment provider to focus on more interactive channels! Join the conversation on our stories through Facebook, Twitter, and other social media pages, and let's chat, share, and connect in the best way possible!

Join our social media

For even more exclusive content!

- Advertisement -spot_img

TOP STORIES

- Advertisement -spot_img
- Advertisement -

Of The Week
CARTOON

247Ureports Protects its' news articles from plagiarism as an important part of maintaining the integrity of our website.