The Economic and Financial Crimes Commission, EFCC, Lagos Zonal Office, has secured the conviction and sentence of one Olaniyi Zaccheus, a former account officer of the Staff Cooperative Thrift and Credit Society of the College of Medicine, Idi-Araba, Lagos State for N4million fraud.
The conviction and sentence were done through virtual proceedings.
Zaccheus, alongside one Seyi Agbekuyide, a former treasurer of the Credit Society who later became its Vice President, were arraigned on May 6, 2015 on 13-count amended charges bordering on conspiracy to steal, stealing, and conspiracy to commit felony and forgery.
The Commission received a petition by the executive of the Society alleging fraudulent withdrawals from its account with Union Bank of Nigeria, Idi-Araba branch, amounting to about N1.5million.
Subsequently, investigations into the petition were carried out by the Commission, which unearthed several suspicious withdrawals from the said account amounting to about N4.5million, with investigators nailing Zaccheus and Agbekuyide. Zaccheus had claimed that he carried out withdrawals from the account on the instruction of Agbekuyide.