Anti-corruption and elections / EFCC
Alleged $12 Million Money Laundering Charge: Absence of SunTrust Bank MD Stalls Arraignment
The scheduled arraignment of Halima Buba, Managing Director/Chief Executive Officer of SunTrust Bank Ltd, and Innocent Mbagwu, the bank’s Executive Director/Chief Compliance Officer, was on Tuesday, May 27, 2025, stalled due to the absence of the defendants in court. The case, brought before Justice Emeka Nwite of the Federal High Court, Abuja, involves allegations of a $12 million fraud leveled against the two top executives by the Economic and Financial Crimes Commission, EFCC. The EFCC is prosecuting Buba and Mbagwu for alleged conspiracy and aiding cash payments to different persons involv…
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