EFCC alerts over Garnishee Order fraud on dormant accounts, arrests lawyer
AN Ibadan-based legal practitioner (names withheld) has been arrested by operatives of the Economic and Financial Crimes Commission (EFCC), Ibadan Zonal Office, in connection with an alleged attempt to procure Garnishee Order from court to have access to dormant bank accounts with high net worth.
Disclosing this to the Tribune Online through a press statement on Tuesday, the Head, Public Affairs of the EFCC Zonal Office, Ayo Oyewole, said that the lawyer was still being quizzed by the EFCC as of the time of filing this report.
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According to Oyewole, the EFCC started the investigation of cases of conspiracy and stealing involving the use of Garnishee Orders targeted at such high net-worth bank accounts with low or no activities, following complaints from some banks on the increase in the inflow of such court orders on a number of dormant accounts.
He said that three of such cases, where attempts were made to steal over N30 million, were being investigated to unravel the brains behind this new method of crime.
“The arrested lawyer is being quizzed in connection with an attempt to procure such phony court orders.
“Investigations have revealed that one of the modes of operation was that two individuals would approach the court to decide on alleged case of breach of contract, having at their disposal insider information on the inactive bank account with high net worth.
“A third party purported to be the owner of the targeted dormant account would be joined in the matter as being responsible for the failed transaction.
“Having secured a judgment on the phoney case of breach of contract, one of the parties would present a prayer before the court for a Garnishee action against the dormant account. The bank, by the order, would then be compelled to carry out a transfer of funds from the account without the knowledge of the original owner of the account,” he stated further.
Tribune
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