Fraudsters hack Moniepoint system, steal depositors’ N1.1bn

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Moniepoint Microfinance {Bank} is at present battling to get better a N1.1 billion allegedly stolen by fraudsters from the {bank}.

The hacker, Sunday Ozimede, was stated to have invaded the vault of Moniepoint and defrauded the lender of a sum of N1,190, 728, 076 billion.

The hacker who has been arrested by the operatives of the Police Particular Fraud Unit (PSFU), was  arraigned earlier than Justice Ambrose Lewis-Allagoa of the Federal Excessive Court docket, Lagos, on prices bordering on conspiracy, acquiring the sum of N945, 728, 076 million by false pretence.

The 43 years previous alleged hacker, was additionally accused of inflicting {financial} loss to Moniepoint Microfinance {Bank} to the tune of N145 million, by planting a bug within the {bank}’s information system.

The PSFU’s prosecutor, Barrister Justine Enang, on the arraignment of the defendant, instructed the courtroom that Ozimede and others stated to be at giant, dedicated the alleged offences generally in Might, 2024.

Particularly, the prosecutor instructed the courtroom the the defendant Sunday Ozimede, fraudulently diverted the talked about sum from varied Moniepoint Microfinance {Bank}’s prospects deposited funds by means of quite a few transactions to different banks.

He instructed the courtroom that the unlawful acts of the defendant, are opposite to and punishable underneath sections Part 27 (i)(b); 14 of the Cyber Crimes (Prohibition, Prevention and so on) Act, 2015 as Amended in 2024, Highway together with part 14 (1) of the identical Act.

The prosecutor additionally instructed the courtroom that the act of the defendant contravened part 18(2) (b) & (d) and punishable underneath Part 18(3) of the Cash Laundering (Prevention and Prohibition) Act, 2022.

The defendant denied the allegations and pleaded not responsible to the costs.

Nonetheless, defendant’s lawyer, Abdulmalik Ibrahim, by means of a movement for bail, pleaded with the the courtroom to confess his consumer to bail in probably the most liberal phrases.

The applying was strongly challenged by the prosecutor, who instructed the courtroom that the defendant is a ‘flight threat’, saying that he might not flip up for his trial if granted bail.

Justice Lewis-Allagoa, after listening to the events, nonetheless, admitted bail to the defendant within the sum N50 million with one surety in like sum.

The choose additionally ordered that the surety have to be a landed property proprietor inside the jurisdiction of this courtroom. Including that the phrases of the bail have to be verified by the courtroom’s Registrar and the prosecutor.

The matter has been adjourned to March 13, for the defendant’s.

The amended cost in opposition to in opposition to the defendant reads: “that you just Sunday Ozimede “M” and others now at giant, someday in Might, 2024, in Lagos State inside the jurisdiction of the judicial Division of the Federal Excessive Court docket, with intent to defraud, did conspire amongst yourselves to commit a felony to wit: acquiring the sum of N945, 728, 076. 00 (9 Hundred and Forty 5 Million, Seven Hundred and Twenty Eight Thousand and Seventy Six Naira) by false pretence and thereby dedicated an offence opposite to Part 27 (i) (b) of the Cyber Crimes (Prohibition, Prevention and so on) Act, 2015 as Amended in 2024, Highway together with part 14 (1) of the identical Act.

“That you simply Sunday Ozimede “M” and others now at giant, someday in Might, 2024, in Lagos State inside the aforementioned Judicial Division of the Federal Excessive Court docket, did knowingly and with out authority trigger {financial} misplaced to Moniepoint Microfinance {Bank} to the tune of N145,000,001.00 (One Hundred and Forty 5 Million and One Naira) by planting a bug within the firm’s information system and moved the above sum from its Operational account under consideration quantity 6343898097 buying and selling underneath the title: Sunday Ozimede which sum you fraudulently diverted from Moniepont Microfinance {Bank} prospects deposited funds by means of quite a few transactions to different banks, thereby conferred {economic} profit on yourselves by changing the cash in query to your individual use in opposition to Moniepoint Microfinance {Bank} and thereby dedicated an offence opposite to and punishable underneath Part 14 (1) of fhe Cyber Crimes (Prohibition, Prevention and so on) Act, 2015 as Amended in 2024,

“That you simply Sunday Ozimede “M” and others now at giant, someday in Might, 2024, in Lagos State within the aforementioned Judicial Division of the Federal Excessive Court docket, Lagos, did straight or not directly converts or transfers, retains or takes possession or management of funds belonging to Moniepoint Microfinance {Bank} deliberately, knowingly or fairly should have identified that such funds is, or kinds a part of the proceeds of an illegal Act and thereby dedicated an offence opposite to Part 18(2) (b) & (d) and punishable underneath Part 18(3) of the Cash Laundering (Prevention and Prohibition) Act, 2022.”

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