Money Laundering: Former Union Bank MD Barth Ebong, others charged by EFCC

by Rachel Ogbu

The Economic and Financial Crimes Commission, EFCC, has re-arraigned former managing director of Union Bank Plc, Barthlomew Ebong and five other executives of Falcon Securities Limited, a Subsidiary of Union Bank Plc.

They were brought before a Federal High Court sitting in Lagos yesterday over alleged money laundering.

Ebong is standing trial alongside Henry Onyemem, Niyi Albert Opeodu, managing director of Falcon Securities Limited, Samuel Anyininuola and Falcon Securities Limited.

The prosecutor, Nkem Okolie had told the court at their arraignment, that the accused were charged with unlawfully granting loan facilities to themselves without security, above the approved limit, and without lawful authority from the Central Bank of Nigeria, CBN.

According to the charge, “the alleged offences contravened section 2(3) (4) of the money laundering (prohibition) act 2004, and punishable under section 2(5) of the same act.”

However, they all pleaded not guilty to the 20 count charge preferred against them.

The accused were re-arraigned before Justice Rita Ofili-Ajumogobia who will now be the trial judge following the transfer of Justice Binta Murtala Nyako, former trial judge, from the Lagos Division.

One comment

  1. hi this is William randall mcgrue and I was in looking for mr ebong since 2011 about this cheack that was since to me form the bank and who do I talk to about this matter im in Houston texas not California no longer I would love to speak with someone about this matter you can reach me at 409 934 2432

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