Accountant jailed 14 years for theft of N3.1m

A Lagos High Court sitting in Ikeja on Tuesday sentenced a former Chief Accountant with Vanguard Media Limited, Bhadmus Yisa, to a 14-year jail term for stealing N3.1 million from his employer.

Justice Oluwatoyin Ipaye found Bhadmus guilty of conspiracy and stealing charges brought against him by the Economic and Financial Crimes Commission,( EFCC).

Bhadmus and one Samuel Ogbole, the Imo State Circulation Officer of Vanguard Media Limited, were accused of stealing the company’s money.

He had pleaded not guilty to the amended eight -count charge brought against him by the EFCC when he was arraigned on October 21, 2013

Justice Ipaye in her judgment found the defendant guilty on charges of conspiracy to steal and stealing.

The judge resolved the charges of conspiracy to steal and stealing in favour of the prosecution, while she held that the prosecution failed to prove the case of conspiracy to forge bank documents and forgery pressed against the accused and his alleged accomplice.

Justice Ipaye held that Bhadmus and Ogbole stole the proceeds of sales of Vanguard newspapers in Owerri from 2006 to 2008 through forged tellers numbering about 68, which were not remitted into the company’s bank account.

She held: “I have no doubt that the prosecution has proved the case of stealing beyond reasonable doubt. I have no doubts that Vanguard dispatched newspapers to Owerri, which proceeds supposed to be remitted to the company’s account, following which the out station manager needs to file weekly sales proceeds to the head office.

“But this was not done, instead, he was sending money into the account of the accountant. The money paid to the personal account of the accountant represented the sale proceed of newspapers sold in Owerri. I therefore resolved the issue of stealing in favour of the prosecution.”