Ex-banker sentenced to 3 years imprisonment over N450m fraud
A former Union Bank Head of Operations, Paul Onwughalu has been sentenced to three years imprisonment for committing N450m fraud.
Onwughalu was accused of fraudulently hacking into the Union Bank database and transferring a N450m sum to various accounts in Ecobank, Diamond Bank, Zenith Bank, United Bank for Africa and Dankawu Bureau De Change.
He was arraigned and found guilty on a four-count charge bordering on failure to conduct due diligence in financial transactions.
Onwughalu had pleaded not guilty to the charge preferred against him, thereby setting the stage for his full trial.
In the course of the trial, the prosecution counsel, Fadeke Giwa, had presented a number of witnesses and tendered various documents that were admitted in evidence by the court.
Counsel to the convict, O. Fagbemi, pleaded with the court to temper justice with mercy in sentencing his client.
Justice Ogunsanya found the accused guilty and sentenced him to three years imprisonment on each count.
