Union Bank staff, Tope Oluwasanmi Bags 13 Years Jail Term For N116m Fraud



Union Bank staff Temitope Oluwasanmi and his friend, Augustine Olayinka


By Our Reporter

A staff of Union Bank, Temitope Oluwasanmi will have to spend 13 years behind bar for N116m fraud, his friend, Augustine Olayinka was also jailed by Justice Mojisola Dada of the Special Offences Court, Lagos State.

The convicts were arraigned by the EFCC in December 2017 on a six-count charge bordering on conspiracy, stealing and fraudulent diversion of funds to the tune of N116million.

They pleaded “not guilty,” prompting commencement of trial.

Oluwasanmi was arrested by operatives of the EFCC in October 2017, following a petition from the bank.

He was accused of diverting N116 million to the accounts of three friends: Augustine Olayinka, Oginni Opeyemi and Ogbaro Oluwaseyi.

Opeyemi and Oluwaseyi are currently at large.

Three witnesses were called by the prosecuting counsel, Bilikisu Bala Buhari In the course of the trial.  Several documents were also tendered to prove the case against them.

Delivering judgement today, March 5, 2021, Justice Dada found the first and second defendants guilty of count one bordering on conspiracy, and sentenced them to three years imprisonment.

The first defendant was further convicted of counts two, three and four and sentenced to 10 years imprisonment.

He was also found guilty of count six bordering on retention of criminal proceeds and sentenced to three years imprisonment.

The second defendant was found guilty of count five bordering on fraudulent false accounting and sentenced to seven years imprisonment.


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