2 Catholic Sisters, Bank MD Tampered With CAC Records To Evade 1.2bn Debt

<blockquote><b>&quot;Two Catholic Sisters, Bank MD Arrested&quot;EFCC Alleges Tampering With Shareholders Records At CAC To Evade N1.2bn Loan Repayment<br><br>Madonna University Deputy VC Anagboso Allegedly Created Fraudulent Debenture, Stripped Majority Shareholders of Holdings</b><br><br>Operatives of the Economic and Financial Crimes Commission have arrested two Catholic Church sisters for allegedly and unlawfully tampering with shareholders documents at the Corporate Affairs Commission.<br><br>The suspects, Rev. Sisters Annette Ezekwem and Gertrude Okafor (personnel of Madonna University, Elele, Rivers State), were arrested alongside the Managing Director of Mayfresh Mortgage Bank Limited, Aba, Abia State, Mr. Mark Egbegolu, over allegations of fraudulent meddling with shareholders names and dates of birth, allegedly aimed at evading repayment of a N1.2 billion loan obtained in 2020.<br><br>Investigations by South-East PUNCH revealed that the principal suspect in the deal, Deputy Vice-Chancellor of Madonna University, Prof. Martin Anagboso, who allegedly initiated the fraudulent process at the CAC, was arrested penultimate week by the anti-graft agency.<br><br>It was gathered that the DVC, Anagboso, created a debenture in favour of Mayfresh Mortgage Bank Limited to secure a N1.2 billion loan in 2020. To evade repayment of this loan, the suspect, in connivance with accomplices now at large, allegedly altered CAC records to strip majority shareholders of their lawful holdings and silence their demands for repayment.<br><br>The suspects allegedly intended to alter the names and dates of birth of Chief Steven Edeh (Late), Arc. John Paul, and Mrs. Maria Edeh-Omeogo, who are major shareholders at Mayfresh Mortgage Bank, to divert payment of the loan.<br><br>Their arrest reportedly followed directives from the National Security Adviser, Mallam Nuhu Ribadu, to the EFCC to investigate the unlawful tampering with the banks records at the CAC.<br><br>Reacting to the development, the Rule of Law and Accountability Advocacy Centre condemned the acts and called on authorities to investigate the alleged fraud.<br><br>The Executive Director of the Centre, Dr. Okechukwu Nwanguma, urged authorities to investigate the fraud and charge the principal suspect to court.<br><br>He said, The principal suspect and all identified accomplices should be charged to court without delay, and it must be ensured that this case is neither compromised nor swept under the carpet.<br><br>We demand prompt prosecution to send a strong message that Nigeria will not tolerate economic sabotage and that its institutions are committed to protecting lawful business interests.<br><br>Efforts to reach the suspects for comments on the development were futile, as calls made to the MDs phone number, including those of the DVC and others, were not answered. Messages sent to their mobile numbers had not been responded to as of the time of filing this report on Monday.</blockquote><br><a rel=ugc href="https://thenigerialawyer.com/two-catholic-sisters-bank-md-arrested-efcc-alleges-tampering-with-shareholders-records-at-cac-to-evade-n1-2bn-loan-repayment/">https://thenigerialawyer.com/two-catholic-sisters-bank-md-arrested-efcc-alleges-tampering-with-shareholders-records-at-cac-to-evade-n1-2bn-loan-repayment/</a>
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