Fraudulent POS Agent Convicted In Benue
Mr. Eze Shedrach, a fraudulent POS merchant was convicted on Wednesday, 3rd July 2019.
The Economic and Financial Crimes Commission (EFCC) had arrested, investigated and taken Shedrach before Justice Mobolaji Olajuwon sitting at Federal High Court Makurdi, Benue State.
Following a plea bargain agreement between him and the Commission, he was re-arraigned on a one-count amended charge that replaced the initial charge against him.
The count reads: “That you Eze Shedrach being a First Bank Service provider as a Moni Agent on the 28th of April, 2019 at Ikpayongo town, within the jurisdiction of this Honourable Court, failed to obtain proper identification of your customer before executing the customer’s electronic instruction using First Bank Plc ATM issued to one Oodo Rose on your Point of Sale (POS) to withdraw the sum of N105,000.00 (One Hundred and Five Thousand Naira only) and thereby committed an offence contrary to and punishable under section 37(2) of the Cybercrime (Prohibition, prevention ETC) Act, 2015 and punishable under the same Act”.
He pleaded “guilty” to the charge.
In view of his plea, the prosecuting counsel, Y. Y. Tarfa urged the Court to accept the plea bargain and convict him accordingly.
Justice Olajuwon pronounced him guilty and subsequently convicted him and ordered him to pay a fine of N500,000 (Five Hundred Thousand Naira) to the Federal Government of Nigeria.
Also that the sum of N100,500 (One Hundred Thousand, Five Hundred Naira only) that had been refunded during the course of the investigation to be paid to the complainant as restitution. The Court also ordered him to be remanded in prison custody pending the payment of the fine.
Trouble started for Eze Shedrach who was a First Moni Agent with First Bank when one of his customers withdrew N105,000 through his POS machine, and he did not take a record of this transaction.
Investigation revealed that the POS merchant had been transacting business without proper documentation of his customers upon withdrawals. That the withdrawal of N105,000 done on his POS machine on 28th April 2019 was with a stolen ATM card belonging to the victim could not be traced in his ledger as there is no documentation to that effect.