Man Who Stole N1.1 Billion from Nigerian Bank Has Been Identified, Name and Age Released
- Sunday Ozimede, a 43-year-old man, was arraigned before the Federal High Court in Lagos for allegedly hacking a Nigerian fintech company’s vault and stealing over N1 billion
- He faced charges of conspiracy, hacking, and obtaining by false pretence, and was granted bail in the sum of N50 million
- The judge stipulated that the surety must be a landed property owner within the court’s jurisdiction and adjourned the case to March 13, 2025, for trial
A 43-year-old man, Sunday Ozimede, who allegedly hacked into the vault of one of Nigeria’s foremost fintech companies and stole N1,190,728,076 billion, was arraigned by the police before the Federal High Court in Lagos State on January 20.
The defendant faced three counts of conspiracy, hacking, and obtaining by false pretence, charges preferred against him by the Police Special Fraud Unit (PSFU).
Man Who Stole N1.1 Billion from Nigerian Bank Has Been Identified, Name and Age ReleasedSource: Original
Allegations of Fraud and Hacking
The PSFU’s Prosecution Counsel, Justine Enang, informed the court that the defendant allegedly hacked into the microfinance bank and fraudulently obtained N945,728,076 million by false pretence.
Enang further stated that Ozimede caused a financial loss to the fintech bank amounting to N145 million by planting a bug in the bank’s data system.
The prosecutor explained that Ozimede, along with others now at large, conspired to commit the offences sometime in May 2024.
Court Proceedings and Bail
In court, Enang revealed that Ozimede diverted the aforementioned money from various customers’ deposited funds through numerous transactions to other banks.
The charges brought against him were in violation of Sections 27(i)(b) and 14 of the Cyber Crimes (Prohibition, Prevention, etc.) Act, 2015, as amended in 2024, and Section 14(1) of the same Act, and 18(2)(b) & (d), punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.
The defendant pleaded not guilty to the charges.
Defence and Bail Decision
Following his not-guilty plea, the prosecutor requested the court to remand Ozimede to a correctional centre pending the conclusion of the trial and sought a trial date.
However, the defendant’s lawyer, Abdulmalik Ibrahim, in a motion for bail, pleaded for his client to be granted bail on the most liberal terms.
The prosecutor opposed the bail application, accusing the defendant of being a ‘flight risk’ and expressing concern that he might not appear for his trial if granted bail.
Judge’s Ruling on Bail
After considering the submissions from both parties, Justice Ambrose Lewis-Allagoa granted the defendant bail in the sum of N50 million, with one surety in like sum.
The judge stipulated that the surety must be a landed property owner within the court’s jurisdiction and that the bail terms must be verified by the court’s registrar and the prosecutor. The case was adjourned to March 13, 2025, for trial.
Bank Official Who Stole N88.1m
TheTalk.NG reported that a man, Theodore John Conrad, who was 20 years old in July 1969, came to work as a bank teller in America.
After his work, he stole $215,000 (N88,182,250) and nobody saw him ever again. CNN reports that the value of the money he stole in today’s value is around $1.7 million (N697,255,000) and the theft is one of the biggest heists in bank robbery history.
Source: TheTalk.NG
