Table of Contents
- High Court Sentences Grace Andreas Karka
- Findings of Guilt
- Details of the Fraud
- Court Ruling and Penalties
- Audit Revelation
A High Court in Adamawa has sentenced Grace Andreas Karka, the Managing Director of Bonghe Microfinance Bank, to five years in prison for her involvement in a ₦32 million fraud.
Justice Benjamin Lawan Manji found Karka guilty of criminal conspiracy and fraud, following a case initiated by the Economic and Financial Crimes Commission (EFCC).
According to the EFCC, between August 2020 and March 2021, Karka and her accomplice, Prince Moses Batalu, unlawfully transferred approximately ₦66.7 million from the bank’s account without proper authorization.
She pleaded not guilty when the case commenced in November 2024; however, after several witnesses and pieces of evidence were presented, the court concluded that the prosecution had established its case beyond a reasonable doubt.
Justice Manji sentenced her to five years in prison, with the option to pay a ₦3 million fine for each count, both sentences to run concurrently. She was also ordered to reimburse ₦29.8 million to the bank.
The fraud was uncovered following an internal audit in 2021, which revealed suspicious transfers from the bank’s account to an individual who was not a customer. Further investigation indicated that the transactions had been authorized by Karka herself.
Frequently Asked Questions
What was Grace Andreas Karka sentenced for?
She was sentenced for her involvement in a ₦32 million fraud and found guilty of criminal conspiracy and fraud.
What were the details of the fraud?
The fraud involved the illegal transfer of approximately ₦66.7 million from the bank’s account without authorization between August 2020 and March 2021.
What penalties did Karka face?
Karka was sentenced to five years in prison, with an option to pay a ₦3 million fine for each count, and ordered to refund ₦29.8 million to the bank.
