Federal High Court sitting in Umuahia, Abia state, sentenced Chika Odinaka Ohaegbulem to seven years in prison on a14-count charge bordering on conspiracy, forgery, impersonation and obtaining money by false pretences.
The Economic and Financial Crimes Commission (EFCC) spokesperson, Wilson Uwujaren, in a press statement yesterday in Abuja said that Ohaegbulem was arraigned before Justice F.A Olubanjo on May 5, 2014, alongside three other members of a syndicate who are specialized in stealing various investors’ dividend warrants, which they sold to Ohaegbulem for clearing.
He said all the accused had pleaded not guilty but in the course of trial, Ohaegbulem changed his plea and offered to return the sum of N1.4 million found in his account to his victim.
Uwujaren said he was consequently convicted and ordered to pay restitution to his victim to the tune of N1.4 million.
He said the trial of the three others continues, with further hearing fixed for May 27, 2015.