Two Women Steal Dead Man's N119.7m Worth of Shares in Lagos and This Happened to Them

 

The two women identified as Nneka Okechukwu and Nkiru Celine Okoro, were arraigned by the Economic and Financial Crimes Commission (EFCC) on Monday.

 

They were arraigned at a Lagos High Court in Igbosere for allegedly stealing and selling a dead man’s shares worth N119,798,253.61.

 

According to The Nation, Okechukwu, a former head of the Business Development, Heritage Capital Markets Limited, Lagos and Okoro, an ex-employee of C. N. Ukachukwu and Sons Limited, appeared before Justice Oluwatoyin Taiwo.

 

They are standing trial on a 19-count charge of conspiracy, fraud, stealing and forgery, contrary to Sections 9(b), 278 (1), 285 (1), 363(3)(b) and 409 of the Criminal Law of Lagos State, 2011.

 

Prosecuting Counsel, Miss Elizabeth Oyedotun, told the court that the defendants committed the alleged offences on several dates in 2013 in Lagos.

 

She alleged that they conspired and sold shares valued at a total sum N119, 798,253.6 “property of the Estate of the late Cyril Ukachukwu, entrusted to you for the sole purpose of transmitting the said shares to C. N. Ukachukwu and Sons Limited and recover the unclaimed dividends that accrued on the shares.”

 

The shares, she said, were stolen and sold in several tranches.

 

Oyedotun added: “Sometime in 2013, the defendants dishonestly converted to their own use N63,028,785.32 and N20,000,000, being proceeds of the sale of shares of blue chip companies, property of Ukachukwu.

 

“In July 30, 2013, the defendants converted N33, 736,846 to their own use being proceeds of sale of some units of shares of Nigerian Breweries (NB), property of the Estate of the late Ukachukwu”.

 

Other shares from First Bank (N277, 000), UACN (140,789.59), United Bank for Africa (UBA) (N1, 453,657.75), Union Bank (N81, 186.04) and African Prudential Bank (N1, 079,988.91) were also allegedly converted by the duo.

 

Okechukwu was further alleged to have “forged the Heritage Capital Markets Limited letter dated December 16, 2013 captioned “RENEGOTIATED OUTSTANDING” addressed to the Executor/Justice P. C. Onumajulu (Rtd).”

 

Also, her co-defendant, Okoro, was alleged to have on several dates in 2013 in Lagos, forged several C. N. Ukachukwu and Sons Limited board resolutions purporting them to have been signed by the firm’s managing director, two directors and herself as company secretary.

 

The defendants pleaded not guilty to the charges and Oyedotun urged the court to remand them in prison.