Yaba Magistrates’ Court on Friday, June 23, 2023 allegedly arraigned four men for defrauding their employer of N150m at Think Finance Microfinance Bank, Festac Town.
The defendants include the company’s Head of Risk Management, Ojimi Ayodeji, the Loan Officer, Isaac Eddy, Joseph Setonji, and Juwon Irinyemi, and were charged with three counts of theft before the Magistrate.
The above named individuals were tasked with giving, making and processing loans to people for business purposes, but turned around to conspire and borrow money from the firm amounting to N150m, which they shared amongst themselves and never paid back.
They presented individuals and represented themselves with false account numbers, passport photographs, and bank verification numbers to access the loan. This was carried out between 2019 and December 2022 at the bank.
The three individuals were charged with three counts of theft before the Magistrate. The defendant, however, pleaded not guilty to the charges and asked the court to grant them bail in the most liberal terms.
Without opposition from the prosecution, the court admitted them to bail in the sum of N2m each with four responsible sureties in like sum.