ICPC secures conviction of ex-perm secretary over N160 million fraud
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has secured the conviction of a former Permanent Secretary, Peter Ayeni and Director of Finance and Account, Pius Ojemolon at the Edo State Universal Basic Education Board (ESUBEB), over allegations bordering on fraud, conspiracy and abuse of office.
ICPC had, in a 2-count charge brought before Hon. Justice Acha J. I. of the Edo State High Court 1, sitting in Benin City, averred that the convicts, while being public officers in 2009, conspired among themselves and fraudulently placed the sum of N160,000,000 ESUBEB fund into a fixed deposit account with the then Equitorial Trust Bank, now Sterling Bank, for 30 days at a 15 percent interest rate.
The Court was also informed of how the convicts shared amongst themselves the sum of One Million, Seven Hundred and Seventy-Eight Thousand Naira (N1,778,000) being profit yielded from the fraudulent fixed deposit investment.
The spokesperson of ICPC, Azuka Ogugua stated this in a statement on Wednesday night.
Counsel to ICPC had argued that the action of the former public officers contravened sections 19 and 26 of the Corrupt Practices and Other Related Offences Act, 2000, and urged the Court to mete out appropriate sanctions.
The trial Judge having found that the Prosecution had proved its case beyond a reasonable doubt, convicted the duo on all the charges levelled against them.
In handing down his judgment, Justice Acha sentenced them to five years imprisonment each with an option of a fine of N1,778,000 which was the proceed of their crime.