Court jails banker five years for fraud

An Oredo Magistrate’s Court, Benin, Edo State, has sentenced an employee of United Bank for Africa, Osasere Osemwengie, to five years imprisonment, without an option of fine.

Osemwengie, according to police charges, defrauded unsuspecting bank customers of millions of naira under the guise of helping them to invest in UBA.

Chief Magistrate Peter Edo-Asemota, said, “Osemwengie deserves to be kept away from other members of the society for a while for pains he has caused his numerous customers and the larger society.

“Osemwengie employed his knowledge in banking to perpetuate fraud .”

Osemwengie was initially arraigned before the court on 23 counts, but the  prosecution, led by ASP Samuel Ogah, had dropped 22 of the charges owing to lack of evidence.

The only count that survived was count 17, “That you, Osasere Osemwengie, on August 24, September 17 and November 19, 2009, at UBA, Airport Road, Benin, forged and signed UBA branch certificates of

deposit, knowing same to be false.”

The offence, he said, contravened section 467(2) (b) (j) and (i) of the Criminal Code.

PUNCH