Thursday, 5 February 2015

FRAUD: Italian Businessman Arraigned For Defrauding Nigerian Bank Of N717m

Justice Mohammed Idris of the Federal High Court in Lagos yesterday ordered that a Nigerian-based Italian businessman, Piero Allan Franchillo, be remanded in prison custody for allegedly defrauding Zenith Bank Plc of the sum of N717 million.

The Italian was arraigned before the court on a five-count charge of advanced fee fraud, forgery and altering of documents by lawyers from the Special Fraud Unit of the Nigerian Police.

The accused person, however, pleaded not guilty to all the counts, a development that made the court to order that he be kept in custody pending the hearing and determination of his bail application on February 7.
Before the case was adjourned, the prosecutor, Mrs Susan Ezema had informed the court that the foreigner conspired with others who are still at large, to obtain about N717 million from Zenith Bank, for the construction of a Mall at Effurun, Delta State.

Ezema also alleged that the accused person fraudulently converted the money to his own use rather than executing the project for which the sum was obtained.

She said the alleged offence was committed between August 2013 and April 2014, at Zenith Bank’s headquarters in Victoria Island, Lagos.

Source:
Leadership Newspaper