A woman, Janet Theophilus Danjuma, has been convicted and sentenced to five years imprisonment by the Federal High Court sitting in Kano for investment fraud to the tune of N22,350,000 (twenty-two million, three hundred and fifty thousand naira).
The defendant was arraigned the Kano Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) before Justice S. M. Shuaibu on Monday, February 16, on a one-count charge bordering on obtaining money by false pretence.
Count one of the charge reads: “That you, Janet Theophilus Danjuma, being a staff of Taj Bank Limited, Nai’bawa branch, Kano, sometime in October, 2024 in Kano, within the jurisdiction of this Honourable Court, with intent to defraud, did obtain the sum of N22,350,000 (twenty-two million, three hundred and fifty thousand Naira) from Wade Bamaiyi, under the pretext that the money will be invested in CASA Programme of Taj Bank Limited which pretence you knew to be false and thereby committed an offence contrary to Section 1(1)(b) of the Advance Fee Fraud and other Fraud Related Offences Act 2006 and Punishable Under section 1(3) of the same Act.”
Upon her arraignment, the charge was read to the defendant, to which she pleaded guilty.
Following her guilty plea, the prosecuting counsel, Sadiq Huseini, reviewed the facts of the case, detailing how the defendant deceived her victims by exploiting the name of a legitimate financial product to gain their trust.
He urged the court to convict the defendant accordingly as prescribed by law.
Consequently, Justice Shu’aibu convicted and sentenced Danjuma to five years imprisonment without an option of a fine.
Danjuma bagged her imprisonment when she fraudulently induced her victims to invest a total of N22,350,000 in a non-existent investment scheme, falsely claiming she would channel the funds into the Taj Bank CASA (Current Account Savings Account) programme.
However, an investigation by the commission traced all the monies to her personal account.
She was charged to court and convicted.
