ECONOMIC and Financial Crimes Commission (EFCC) on Friday arraigned the General Manager of B.C. Madiebo Insurance Brokers Limited, Mr. Christopher Madiebo before Justice Lateefa Okunnu of a Lagos High Court sitting in Ikeja, Lagos State, for theft of N30.606 million being the property of the company of which he is a co-owner.
Madiebo was arraigned on a six-count charge of theft and according to the EFCC counsel, Francis Usanu, he had on July 24, 2009 stolen and converted for personal use, a sum of N9.4 million entrusted in his care by the company.
He was also alleged to have claimed that the money was for his search for insurance business.
The anti-graft agency also alleged that Madiebo had, on August 24, 2009 also, with intent to defraud, stolen and converted another sum of N2 million for personal use, claiming that it was a gift from the company.
He was also alleged to have stolen and converted N3 million being premium for insurance policy of cars belonging to General M.I. Wushishi (rtd.) entrusted in his care as the General Manager of the insurance company.
The defendant was alleged to have, on July 24, 2009, fraudulently stolen and converted another N15 million for personal use. In addition, he was alleged to have, on July 24, 2009, fraudulently stolen and converted for personal use another N1 million being proceeds of sales of Zenith Bank Plc and Fidelity Bank Plc shares.
Madiebo was also alleged to have stolen and fraudulently converted to personal use, the sum of N202,000 being pension of one Mr. O.N. Nwosu.
The defendant pleaded not guilty to the six-count charge against him and adjourned the matter till January 23 for trial.
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