Okay Courts Not Suntrust Bank MD for Alleged Fraud $ 12 Million

Judge Emeka Nwite from the Federal High Court, Abuja, on Wednesday set June 4 on the charge of Halima Buba, director of the Chief Executive Officer (CEO) from Suntrust Bank Limited, for alleged $ 12 million fraud.

Buba will be charged by the Economic and Financial Crime Commission (EFCC) together with the Executive Director/Head of Bank Compliance Officer, Innocent Mbagwu.

The defendant’s indictment stopped on Tuesday because of their absence in court.

EFCC demands the two bank executives for alleged conspiracy and helps cash payments to different people involving millions of dollars outside the threshold specified without passing through financial institutions that are contrary to Article 21 (a), 2 (1), and 9 (1) (d) from the book Book (prevention and development of prevention and development), 2022, and Pune.

When the problem was called, the legal counsel, Ekele Iheanacho (San), told the court that the problem was scheduled for the indictment, but the defendants were not in court.

He stated that the commission could not serve accusations to the defendants.

He said: “My lord, prosecution has not been able to serve the defendants.

“Ironically, they are aware of today’s process because their legal representatives are in court.

Also read: Ex-First Bank MD, Bisi Onas, denied involvement in the alleged N12.3BN loan fraud

“My educated brother told me in advance that they were willing to receive services on behalf of their clients.

“We do not oppose this, but we want to comply with the 382 (5) section of the Administration of the Criminal Court Law (ACJA), 2015, which requires us to bring applications for substituted services through the Ex Parte application.

“This can be taken before the next postponed date, and both parties have agreed that the indictment can be rescheduled for June 4, 2025.”

Therefore, the lawyer seeks to delay, submit to the comfort of the court, until June 4 for the charges.

Judge Nwite then postponed this problem until June 4 after taking the argument of the parties.

The judge is equivalent to directing the prosecution to submit and bring his request to substituted services to the legal counsel to the defendants on or before May 29.

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