Fake Bureau De Change operator jailed for $169,350 scam

The  Federal High Court sitting in Port Harcourt, Rivers State, has  sentenced Felix Chiwendu, to two years imprisonment for illegally operating a Bureau De Change business without a required license.

The presiding Judge, Justice E A. Obile, said the offence contravened Section 57 (1) of Banks and other Financial Institutions Act, 2020 and punishable under Section 57 (5) (b) (i) (ii) & (iii) of the same Act.

 Chiwendu was jailed after he pleaded  “guilty” to one count charge bordering on obtaining under pretences preferred against him by the Port Harcourt Zonal Command of the Economic and Financial Crimes Commission (EFCC).

 The lawyer to the defendant,  C. S. Nwankwo prayed the court to temper justice with mercy in sentencing the defendant. He also added that his client is a first time offender.

 Justice Obile convicted and sentenced the defendant to two years in the correctional service or N1million as fine and ordered him to depose to an affidavit of good behaviour before the court.