Adamawa Court Sentences Bank MD to 5-Year Jail Term for Embezzling Millions
The Adamawa State High Court in Yola has sentenced Grace Andrea Karka, the Managing Director of Bongh Micro Finance Bank, to five years in prison for embezzling over N32 million. Karka was convicted on two counts of criminal conspiracy and cheating.
The Economic and Financial Crimes Commission (EFCC) brought the charges against Karka and her accomplice, Mose Batalu, for illegal activities involving the theft of N66.79 million from the bank. Karka was found guilty after a full trial and ordered to pay restitution.
The case began with a petition from the bank following an audit that revealed irregularities in the bank's accounts.
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