Bank Fraud: Billionaire Oil Marketer Denied Bail, Detained at Kirikiri Maximum Prison
An oil Marketer, Mr. Seun Ogunbambo has been remanded at the Kirikiri Maximum Prison pending his trial for a bank fraud involving over N1.2bn.
Mr. Seun Ogunbambo was denied bail by the presiding Judge, Justice Olabisi Akinlade of a Lagos High Court in Ikeja since the accused had the tendencies of evading trial. Mr. Seun Ogunbambo was alleged of multiple identities.
Akinlade, in rejecting Ogunbambo’s bail application, said the prosecution, the Economic and Financial Crimes Commission, presented serious evidence to warrant the denial.
She said, “I’ve gone through the evidence against the defendant, it is quite weighty and serious.
“Also, the claims that the defendant was using different names to procure international passports at different times were not challenged or contradicted.”
The judge however, granted a quick hearing fixed on the 24th of January 2013 for trial.
Ogunbambo along with his company, Adeline Investment Ltd was arraigned by EFCC November 19 on a 14 counts of fraud perpetrated between February and September 2009.
Ogunbambo allegedly connived with Olamide Ogunbambo and David Ayodele and deceptively obtained credit facility worth over N1.2bn from Stanbic IBTC Bank Plc.
The accused was said to have been granted a loan of N610m, N230m, N200m, and N180m, in tranches using forged documents.
EFCC alleged that Ogunbambo said he was earning a monthly salary of N5.5m with an additional N5m monthly housing allowance.
He then forged bank statements issued by Bank PHB and Guaranty Trust Bank and presented them to Stanbic IBTC Bank as genuine.
On Monday, Ogunbambo was prosecuted alongside Mamman, son of former Chairman of the Peoples Democratic Party, Ahmadu Ali, and Christian Taylor, for an improved charge of 13 counts of subsidy fraud amounting to about N4.46bn.
Related Posts
2 Comments
-
FCMB Bank (UK) Limited Launches Personal and Business Banking Proposition to Deepen InclusivenessFCMB Bank (UK) Limited, an independently incorporated subsidiary of...
- August 1, 2018
-
The Worrisome Trend of Sensational Social Media “Journalism” and the Impact On Legitimate Business Concerns: Recent Travails of FCMB, GTBank and First BankOn June 25, 2018 I woke up to yet...
- June 26, 2018
-
Azman Air commences flight operation in SokotoAzman Air Thursday commenced flight operation to Sokoto state....
- February 21, 2015
-
NRC increases Lagos goods trains, eyes fuel haulageThe Nigerian Railway Corporation says it has increased its...
- June 23, 2016
Nigeria News
- Yuletide: Visually impaired persons appeal for support in Taraba
- Niger: Gov Bago urges Christians to postpone pilgrimage to Isreal
- Gwamnatin tarayya ta ja kunnen yan adawa a kan siyasantar da mutuwa a turereniya
- Gov Abiodun commiserates with Makinde, Soludo, Wike over stampede victims
- EPL: Salah overtakes Haaland in race for Golden Boot [Top 6]
Nick
November 28, 2012 at 10:39 am
Face of a criminal here
pricewill
November 28, 2012 at 1:36 pm
Is it thoroughly this man that is defrauding Nigeria from subsidy,is not only this man,there are some top political officer holders that are involve,they needed to be prosecuted also.