WEMA Bank MD, Ademola Adebise Allegedly Fingered In N1billion Fraud Rocking Bank

Ademola Adebise, the Managing Director and Chief Executive Officer of Wema bank, has been allegedly fingered in a fresh money laundering fraud rocking the bank.

BIGPENNGR.COM understands some other members of staff of the bank are also named in the fraud running to the tune of N1 billion.

Multiple reports say Adebise was allegedly arrested by the Economic and Financial Crimes Commission (EFCC) over the embarrassing scandal.

The financial institution was recently indicted in an alleged money laundering case involving Dana Air.

This is coming at backdrop of President Muhammadu Buhari’s intensified fight against corruption and commitment to the extradition of the 80-man list of wire fraudsters released by the FBI recently.

“The current case could be likened to a scene from a mafia movie, as Adebise is said to have allegedly threw all caution to the wind in a fraud allegedly estimated to be in the tune of N1bn”, one report said.

Reports in the media reportedly detailed how the Wema Bank MD smartly laundered the said amount using the account of an innocent customer without his consent.

The scam as it has been widely reported is part of a grand plan to dispose the owners of popular hospitality and entertainment facility located in Maryland which is currently under the receivership of Kunle Ogunba (SAN) and the subject of litigation.

The bank was yet to make any comment on the scandal but according to reports the alleged fraud became public knowledge after it was discovered that “a man who hardly could deposit N300,000.00 in his account was suddenly credited a sum of N1Billion naira without an alert or any form of notice”.