Court sentences "wonder bank" operator to 14 yrs in prison for fraud
(Nigeria) Justice Ibrahim Buba of a Federal High Court in Lagos, on Wednesday, sentenced Godwin Nwaichie to 14 years imprisonment after he admitted committing a N14.7 million fraud. Nwaichie was charged by the Police Special Fraud Unit (SFU), alongside another accused, Fortune Etaba and their company, Establishment House Ltd, in a N9.8 billion fraud case. The judge sentenced Nwaichie, after he pleaded guilty to an amended three-count charge bordering on the offence. Buba said: ``The convict, a 23-year-old man at the time of arrest, who ought to be vibrant and hardworking, decided to utilise his intelligence for fraud. ``For such offence, the law provides a maximum of 20 years imprisonment and minimum of seven years. The convict is hereby sentenced to 14 years in prison beginning from Jan. 9, 2010 when he was first arrested.’’ The accused were first re-arraigned on January 21 on the amended charge. Nwaichie had pleaded guilty to the charge, while the second accused, (Etab