Court discharges, acquits couple accused of operating ‘Wonder Bank’ NEWS

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Court discharges, acquits couple accused of operating ‘Wonder Bank’

By AdvocateNews on 19/02/2021

A Federal High Court sitting in Enugu, on Wednesday discharged and acquitted the Founder of Let's Partner With You, Patrick Nwokike and his wife, Rosemary of allegations of operating a “wonder” bank.

Delivering judgment in the matter on Wednesday, Justice R. O. Dugbo-Oghoghorie, held that the Economic and Financial Crimes Commission (EFCC) failed to prove its case against the couple and their firm, “Let’s Partner With You”.

The judge held that in criminal proceedings, the burden lay on the prosecution to prove its case beyond all reasonable doubt as against beyond every shadow of doubt.

The judge, therefore, resolved all the issues on a four-count charge preferred against the defendants by the EFCC in favour of the defendants.

However, the court held that non of the witnesses presented by the prosecution was able to establish that the defendants were either operating a banking business or invited the public to deposit money.

The EFCC had on April 6, 2016, arraigned Nwokike, Managing Director of ‘Let’s Partner With You,’ alongside his wife, Rosemary Ifeoma Nwokike, before Justice Dugbo Aghoghorie of the Federal High Court sitting in Enugu, Enugu State on a 10-count charge bordering on Advanced Fee Fraud and carrying out banking business without a valid license.

The offense, the anti-graft agency said, runs contrary to the provisions of Section 8 (a) of the Advance Fee Fraud and other Fraud Related Offences Act, 2006 and is punishable under Section 1(3) of the same Act. It also breaches Section 2(1) of the Banks and Other Financial Institutions Act.

Posted 19/02/2021 1:14:30 PM

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