The Independent Corrupt Practices and Other Related Offences Commission has secured the conviction of a former Permanent Secretary, Peter Ayeni, and Director of Finance and Account at Edo State Universal Basic Education Board, Pius Ojemolon, over allegations bordering on fraud, conspiracy and abuse of office.
The anti-graft agency brought a two-count charge against them before Justice Acha J. I. of the Edo State High Court 1.
The ICPC at the court in Benin City averred that the convicts, while being public officers in 2009, conspired among themselves and fraudulently placed N160 million ESUBEB fund into a fixed deposit account with the then Equatorial Trust Bank, now Sterling Bank, for 30 days at a 15 per cent interest rate.
The Court was also informed of how the convicts shared amongst themselves the sum of N1,778,000 being profit yielded from the fraudulent fixed deposit investment.
Counsel to the ICPC had argued that the action of the former public officers contravened sections 19 and 26 of the Corrupt Practices and Other Related Offences Act, 2000, and urged the Court to mete out appropriate sanctions.
The trial Judge having found that the Prosecution had proved its case beyond reasonable doubt, convicted the duo on all the charges levelled against them.
In handing down his judgment on Tuesday, Justice Achasentenced them to five years imprisonment each with an option of fine of N1,778,000, which was the proceed of their crime.
