First Bank staff, Nwadiashi jailed for embezzling over N9m from customer’s account

Andrew Nwadiashi, a 40-year-old banker, and eight others, including Osawa Marvellous, Etinosa Ogieva, Erharruyi Osaigbovo, Isaac Godstime Eghosa, Obasohan Kelvin, Evans Jessa Mike, Timothy Odion, and Festus Efe Iyengunmwena, were found guilty and sentenced to prison by Justice M. Itsueli of the Edo State High Court in Benin City on Friday, August 4, 2023.

Nwadiashi’s arrest followed a petition by First Bank in 2020, where he worked as the Head of Non-Financial Transaction at the Warri branch in Delta State. He was charged with disregarding banking policy and debiting a customer’s account for N9,354,000.00. During the investigation, Nwadiashi confessed to the offense and paid the full restitution amount of N9,654,000.00 to the victim.

The other defendants were apprehended based on intelligence linking them to internet fraud activities. The Benin Zonal Command of the EFCC arraigned them on separate one-count charges related to stealing, retention of proceeds of illegal activities, and unlawful possession of fraudulent documents.

Upon pleading guilty to their respective charges, the defendants received varying sentences. Marvellous, Odion, Ogieva, and Iyengunmwena were sentenced to three years imprisonment each with an option of Three Hundred Thousand Naira as fine. Osaigbovo and Mike received three years imprisonment each with an option of Two Hundred Thousand Naira fine. Eghosa and Kelvin were each sentenced to one month imprisonment and a fine of Two Hundred Thousand Naira.

Justice Itsueli also ordered the forfeiture of the convicts’ assets, including a Toyota Lexus ES 330, Lexus E350, phones, laptops, and the balance in their bank accounts to the Federal Government of Nigeria.

The charges against Nwadiashi and Kelvin related to their possession of funds derived from their unlawful acts, constituting offenses under the Economic and Financial Crimes Commission (Establishment) Act.