Court remand Banker for using customers’ N2.9m for MMM
A 32-year-old banker, Oyeyemi Mashood, has been ordered to go and be cooling off his feet in prison by an Ilorin Magistrates’ Court on Tuesday for allegedly using customers money of N2,972,000 for online Ponzi Schemes, popularly known as MMM, Twinkas and Lupas.
The prosecutor, Insp. Mathew Ologbonsaye, told the court that the suspect diverted the customers’ deposits to MMM, Twinkas and Lupas Ponzi schemes, without the consent of the bank management or the customers.
Ologbonsaye said the suspect was arrested on May 9 following the report by the auditor of a new generation bank, Taiwo Branch, Ilorin, which showed that he diverted the customers’ money to his own use.
He added that, the bank discovered the fraud when it received complaints from the bank customers – Chioeze Ventures and Chijoke-Ife Noble – that their accounts did not reflect amounts deposited in the recent time.
The prosecutor said the offences contravened Sections 312, 322 and 309 of the Penal Code and urged the court to remand the accused in prison pending the outcome of investigation.
The defendant is said to be been tried on three counts charges of criminal breach of trust, cheating and misappropriation, to which he pleaded not guilty.
Meanwhile, the Chief Magistrate, Kudirat Yahaya subsequently ordered that the accused be remanded at the Mondala Prison, Ilorin.
Yahaya then adjourned the case until June 5 for further mention.