The Economic and Financial Crimes Commission has arrested a 60-year-old agent of a brokerage firm, Vincent Odionu, for allegedly selling the shares of a diseased client valued at N37.5m.
It was learnt that Odionu, who worked for Lion Stockbrokers Limited committed the crime with the connivance of some people who were said to be at large.
Spokesman for the EFCC, Wilson Uwujare said, “The accused person, who is an agent of a brokerage firm, Lion Stockbrokers Limited, conspired with others to sell the shares of Onwubu Anake (the deceased person) in some blue chip companies, including RT Briscoe, CFAO, Cement Company of Northern Nigeria, First Bank, Oando, Nigerian Breweries, without authorisation.
“The total value of the shares sold by the accused is put at N37.5m.”
PUNCH Metro gathered that the suspect was arraigned before Justice M.A. Onyetenu of the Federal High Court, Abakaliki, Ebonyi State, on two counts that bordered on stealing and forgery.
The charges read in part, “That you, Vincent Odionu, sometime in March 2008, in Abakaliki, Ebony State, within the jurisdiction of the Federal High Court of Nigeria, with intent to defraud, obtained the sum of N1,268,000 by means of fraudulent encashment of GTBank Cheque belonging to Onwubu Anake issued by lion Stockbrokers Limited when you falsely represented yourself at Fidelity Bank as Onwubu Anake, which pretence you knew to be false, and you thereby committed an offence contrary to Section 1 (1)(a) of the Advance Fee Fraud and other Fraud Related Offences Act, 2006 and punishable under Section 1 (3) of the same Act.”
The defendant pleaded not guilty to the charges and Onyetenu subsequently adjourned the matter till October 22, 2014 for consideration of bail application.
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