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Fraudster bags 5-yr jail term for N400m bank fraud committed 12 years ago
Convicted fraudster, Ibrahim Suleiman will now spend the next five years in jail over a N400 million bank fraud he committed about 12 years ago.
Suleiman was found guilty and was handed the prison sentence at a Federal High Court sitting in Jos, the Plateau State capital.
Court papers revealed that Suleiman, who was first arraigned in 2007 and re-arraigned on an amended eight-count by the Economic and Financial Crimes Commission (EFCC) defrauded defunct First Inland Bank to the tune of over N400 million.
Read also: Court orders 34-yr-old dismissed soldier to die by hanging for murdering lover over SMS
One of the counts against Suleiman reads thus, “That you, Ibrahim Suleiman, on or about June 29, 2007, in Jos within the jurisdiction of the Federal High Court, retained in your account with First Inland Bank now FCMB Plc, the sum of N400,700,000 on behalf of others yet at large, and which sum you knew to be proceeds of an illegal act by those yet at large, thereby committing an offence punishable under Section 16 of the Money Laundering Act, 2004.”
Suleiman was adjudged guilty by the presiding judge, Justice Ayo Emmanuel, who found him culpable on all the eight counts preferred against him by the EFCC.
Before delivering his judgement, the trial judge however noted with dismay that “it took me 12 years to conclude the matter due to the antics deployed when I took over this matter.”
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