EFCC arraigns corps member over N3.9m ATM fraud EFCC arraigns corps member over N3.9m ATM fraud

A 28-year-old member of National Youth Service Corps, Sarafadeen Bolatito, has been arraigned before an Ibadan High Court by the Economic and Financial Crimes Commission for defrauding a new generation bank of over N3.9m.

In a 50-count charge levelled against the suspect on Friday, he was accused of using an Automated Teller Machine card to withdraw on daily basis, N100,000 on five installments of N20,000 from June 20, 2008 to August 20, 2008.

The accused, who has been sent to the Agodi Prisons, Ibabdan, on the order of the presiding judge, was alleged to have used the ATM card to withdraw the money from the bank following default in the bank‘s ATM machine.

Sarafadeen was said to be doing his primary assignment at the Finance and Supply section of Ibadan South-East Local Government Council.

According to a source at the commission, the graduate of the University of Agriculture, Abeokuta, opened a Savings account with the bank in early 2008 so that the NYSC authorities could pay his allowance into the account, ”As at the time he started the alleged fraud he had N39,000 in the account. But when he went to one of the branches of the bank to withdraw N10,000 with his ATM, he discovered that his account was not debited despite the withdrawal.

The following day he withdrew N20,000, yet the amount in the account remained constant, the same day he went to another branch of the bank to withdraw another N20,000 and the account was again not debited.