The Economic and Financial Crimes Commission, (EFCC), on Monday 14th March, 2016 arraigned one Emmanuel Umebulue before Justice Peter Obiora of the State High Court Ekwulobia, Anambra State on eleven counts of stealing, to the tune of N2, 800,000.00 (two million, eight Hundred thousand naira) contrary to section 342 of the Revised Criminal Code Law of Anambra State and punishable under section 353 (g) of the same Law.
Emmanuel Umebulue who was a branch manager of Akalabo Microfinance Bank used his position to fraudulently approve loans to the tune of N2.8m, which were paid into the accounts of some customers of the bank and withdrew same using forged withdrawal slips without the consent of the customers. Umebulue also received N865, 000 from other customers of the bank meant for loan repayment, but diverted the funds for his personal use.
He pleaded not guilty to the charge preferred against him.
One of the counts read: “Emmanuel Umebulue sometime in 29th of September, 2012, within the jurisdiction of the High Court of Anambra State with intent to defraud, stole the sum of Five Hundred Thousand Naira (N500,000.00) being property of Akalabo Microfinance Bank Limited via the bank account of your customer Ezeokoye Okechukwu Damia and thereby committed an offence”.
In view of the accused person’s plea, the prosecuting counsel, Moses Arumemi prayed the court to fix a trial date. But the defense counsel, Uyo Stephen however urged the court to grant the accused person bail.
But before adjourning to May 24, 2016, Justice Peter Obiora ordered that the accused be remanded in prison custody.