The High Court sitting in Bauchi, has convicted and sentenced Sarita Hello, Managing Director of Workman Microfinance Bank, to four years imprisonment for a fraud involving over N4.8 million.
The microfinance bank is said to be based in Bauchi.
The spokesperson for the Economic and Financial Crimes Commission (EFCC), Wilson Uwujaren, said the judge, M.M. Abubakar, convicted Ms Hello on two counts of misappropriation and forgery
The anti-graft agency had alleged in the charges filed against her that the offences were contrary to section 308 and 363 of the Penal Code Law and punishable under section 309 and 364 of the same law.
She was said to have sometime in 2020 as the Managing Director of the Microfinance Bank, “misappropriated the sum of N4,786,700.00 (Four Million, Seven Hundred and Eighty-six Thousand, Seven Hundred Naira)”.
The commission alleged that she used the password of the Head, Credit Unit of the bank, to gain access to systems and created fictitious names, generated fraudulent loan requests, approved and paid the same to herself.
”When confronted with evidence of her crime, she pleaded guilty to the charges brought against her and was sentenced to five years imprisonment.
”The defendant was ordered by the court to pay the sum of N3,786,700 (three million, seven hundred and eighty six thousand, seven hundred naira) to the bank through the EFCC.
“The defendant was ordered by the court to pay the sum of N3,786,700 (three million, seven hundred and eighty-six thousand , seven hundred naira) to the bank through the EFCC,” the statement added.
