A former bank manager, Fidelis Egueke, was yesterday re-arraigned for the third time before the Federal High Court in Lagos over an alleged N179,498 million fraud.

The Force Criminal Investigation Department (ForceCID) Alagbon, Ikoyi, re-arraigned him on a 16 count-amended charge.
Egueke was docked before Justice Kehinde Ogundare, the third judge to adjudicate on the charge.

The police alleged that the former bank manager conspired with others now at large to fraudulently remove N174.498 million from a company account domiciled in Guarantee Trust Bank Plc between May 14, 2010 and December 31, 2019.

The prosecution alleged that the defendant and others now at large, at No. 2 Balogun Close, Ikoyi, Lagos, conspired and obtained by false pretence the sum of N350,000.00, from a company under the pretence of opening an account with GTBank.

He was also alleged to have on December 10, 2018, fraudulently obtained N50million from the company under the pretence of using it to finance a fish supply business.
Egueke was also alleged to have, between May and December 2019, without authorisation, fraudulently converted N179,498 million in the company’s account domiciled in GTB Plc to his personal use.

Prosecuting counsel Morufu Animashaun said the alleged offence contravened Sections 8(a), 1(1)(c) of the Advance Fee Fraud and Other Fraud Related Offences Act No. 14 of 2006 and punishable under Section 1(3) of the same Act, among others.

The defendant pleaded not guilty to all the counts.

Defence counsel, Tunde Adekoye (SAN) urged the court to allow his client to continue with the previous bail terms granted him by the previous judges.