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EFCC Releases Picture of FCMB Ex-Manager Sentenced to 121 Years for Fraud

The Economic and Financial Crimes Commission (EFCC) has taken decisive action against financial malpractice, releasing the picture of a former manager of First City Monument Bank (FCMB), Nwachukwu Placidus, who has been sentenced to 121 years in prison.
The verdict was delivered by an Anambra High Court on Friday, following Placidus’s conviction for diverting a customer’s funds totaling over ₦112 million for personal use.
According to a statement issued by EFCC spokesperson Dele Oyewale on Saturday, Placidus’s arrest stemmed from a petition filed against him and forwarded to the commission.
The bank management alleged that Placidus, in his capacity as branch manager, was entrusted with ₦112 million for a fixed deposit.
However, upon the customer’s request to terminate and withdraw the deposit, the bank denied ever receiving the funds.
Subsequently, Placidus was arraigned on March 27, 2018, on 16-count charges including forgery, stealing, obtaining by false pretense, and uttering, by the EFCC’s Enugu Zonal Command.
The judgement, delivered by Justice S. N. Odili of the Anambra State High Court in Onitsha.
“Upon receipt of the petition, the EFCC swung into action, and investigations revealed that the convict diverted the money for his own use and issued a fake fixed Deposit Certificate to the petitioner,” Oyewale said.
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