A few weeks ago, the Federal High Court in Lagos sentenced a former Chief Executive Officer of Oceanic Bank International Plc, Mrs. Cecilia Ibru, to 18-month imprisonment without an option of fine, in addition to forfeiture of assets worth N191bn, for granting $20m and N2bn credit facilities above the approved limit by the Central Bank of Nigeria. TOYOSI OGUNSEYE writes that Ibru’s sentence places her in the top seven on the list of convicted bank fraudsters globally
Name: Bernard Lawrence Madoff
Date of Birth: April 29, 1938
Amount embezzled: $65bn
Sentence: 150 years
In March 2009, Bernard Madoff pleaded guilty to 11 federal crimes and was sentenced to 150 years in prison on June 29, 2009. ”I am actually grateful for this opportunity to publicly speak about my crimes, for which I am so deeply sorry and ashamed,” Madoff told a hushed courtroom. ”As I engaged in my fraud, I knew what I was doing was wrong; indeed, criminal.”
Read More:http://www.punchng.com/Articl.aspx?theartic=Art201010242221587
Every country should have a financial hall of shame with suggestions on how these people can be held accountable!
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