One of the executive members
of the now liquidated Gulf Bank Plc; Prince Adekunle Adeyeba Johnson has been
arrested by police detectives attached to the Special Fraud Unit, Lagos over
his alleged involvement in ₦7billion fraud.
According to the Nigeria
Deposit Insurance Corporation, NDIC report, Prince Adekunle is suspected to be
the ringleader in the collapse of Gulf Bank Plc. He is suspected to be involved
in the insiders’ abuses that led to the bank’s liquidation.
In a statement signed by SFU
spokesperson, DSP Ngozi Isintume-Agu, the fraud was characterised by
manipulation of records, suppression of information, criminal concealment,
misrepresentations and forgeries of public documents, leading to colossal loss
of funds of the defunct bank.
The complainant, Nigeria
Deposit Insurance Corporation, NDIC alleged that Prince Adekunle Adeyeba
Johnson as a major shareholder and a director in the defunct bank used his
position to defraud the bank of over ₦2.5billion. It was gathered that he did
this by fraudulently structuring the credits obtained by him in such a way that
their details were never disclosed to the board of the bank.
Ngozi in the statement said:
“In view of the above, The Nigeria Police, Special Fraud Unit (SFU) invited the
suspect for interview which he avoided twice before he was apprehended at Yaba
area on Sunday, December 8, 2013. “While SFU is making efforts to locate and
invite other principal suspects, Prince Adekunle Adeyeba Johnson will be
arraigned in court, soon.”
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