Popular Microfinance Bank, Moniepoint is currently battling to recover a N1.1 billion allegedly stolen by fraudsters from the bank.
The hacker, Sunday Ozimede, was said to have invaded the vault of Moniepoint and defrauded the lender of a sum of N1,190, 728, 076 billion.
The hacker who has been arrested by the operatives of the Police Special Fraud Unit (PSFU), was arraigned before Justice Ambrose Lewis-Allagoa of the Federal High Court, Lagos, on charges bordering on conspiracy, obtaining the sum of N945, 728, 076 million by false pretence.
The 43 years old alleged hacker, was also accused of causing financial loss to Moniepoint Microfinance Bank to the tune of N145 million, by planting a bug in the bank’s data system.
The PSFU’s prosecutor, Barrister Justine Enang, on the arraignment of the defendant, told the court that Ozimede and others said to be at large, committed the alleged offences sometimes in May, 2024.
Specifically, the prosecutor told the court the the defendant Sunday Ozimede, fraudulently diverted the mentioned sum from various Moniepoint Microfinance Bank’s customers deposited funds through numerous transactions to other banks.
He told the court that the illegal acts of the defendant, are contrary to and punishable under sections Section 27 (i)(b); 14 of the Cyber Crimes (Prohibition, Prevention etc) Act, 2015 as Amended in 2024, Road along with section 14 (1) of the same Act.
The prosecutor also told the court that the act of the defendant contravened section 18(2) (b) & (d) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.
The defendant denied the allegations and pleaded not guilty to the charges.
However, defendant’s lawyer, Abdulmalik Ibrahim, through a motion for bail, pleaded with the the court to admit his client to bail in the most liberal terms.
The application was strongly challenged by the prosecutor, who told the court that the defendant is a ‘flight risk’, saying that he may not turn up for his trial if granted bail.
Justice Lewis-Allagoa, after listening to the parties, however, admitted bail to the defendant in the sum N50 million with one surety in like sum.
The judge also ordered that the surety must be a landed property owner within the jurisdiction of this court. Adding that the terms of the bail must be verified by the court’s Registrar and the prosecutor.
The matter has been adjourned to March 13, for the defendant’s.
The amended charge against against the defendant reads: “that you Sunday Ozimede “M” and others now at large, sometime in May, 2024, in Lagos State within the jurisdiction of the judicial Division of the Federal High Court, with intent to defraud, did conspire amongst yourselves to commit a felony to wit: obtaining the sum of N945, 728, 076. 00 (Nine Hundred and Forty Five Million, Seven Hundred and Twenty Eight Thousand and Seventy Six Naira) by false pretence and thereby committed an offence contrary to Section 27 (i) (b) of the Cyber Crimes (Prohibition, Prevention etc) Act, 2015 as Amended in 2024, Road along with section 14 (1) of the same Act.
“That you Sunday Ozimede “M” and others now at large, sometime in May, 2024, in Lagos State within the aforementioned Judicial Division of the Federal High Court, did knowingly and without authority cause financial lost to Moniepoint Microfinance Bank to the tune of N145,000,001.00 (One Hundred and Forty Five Million and One Naira) by planting a bug in the company’s data system and moved the above sum from its Operational account into account number 6343898097 trading under the name: Sunday Ozimede which sum you fraudulently diverted from Moniepont Microfinance Bank customers deposited funds through numerous transactions to other banks, thereby conferred economic benefit on yourselves by converting the money in question to your own use against Moniepoint Microfinance Bank and thereby committed an offence contrary to and punishable under Section 14 (1) of fhe Cyber Crimes (Prohibition, Prevention etc) Act, 2015 as Amended in 2024,
“That you Sunday Ozimede “M” and others now at large, sometime in May, 2024, in Lagos State in the aforementioned Judicial Division of the Federal High Court, Lagos, did directly or indirectly converts or transfers, retains or takes possession or control of funds belonging to Moniepoint Microfinance Bank intentionally, knowingly or reasonably ought to have known that such funds is, or forms part of the proceeds of an unlawful Act and thereby committed an offence contrary to Section 18(2) (b) & (d) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”
