Banker bags five years for defrauding victims under pretence of investments

A banker , Osasere Osemwengie, has been jailed five years for fraud without an option of fine.

Osasere was arraigned at an Oredo Magistrate’s Court on a 23-count charge but was sentenced on only one count as other counts were dismissed due to lack of evidence.

He was said to have defrauded victims of millions of naira under the pretence of getting them to invest in the bank.

Osasere was arrested after he failed to refund N16 million to his childhood friend, Eugene Ason-Ikhene, who he invited to invest in the bank at a rate of eight percent per annum.

Police counsel Samuel Ogah told the court that it was in the course of police investigation that other fraudulent activities were uncovered.

The Chief Magistrate, Peter Edo-Asemota, said the accused deserved to be kept away from other members of the society for a while so that the pains he caused his victims would subside.

The Nation