OFFICIALS of the Special Fraud Unit, SFU, Monday, said they have arrested a suspect, Prince Adekunle Adeyeba Johnson, over a case of conspiracy, forgery, stealing and money laundering which led to the liquidation of the defunct Gulf Bank Plc.
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The Police Public Relations Officer at the SFU, Ngozi Isintume, said in a statement that the suspect was one of the executive members of Gulf Bank Plc (In- Liquidation) who were involved in the insider abuses that led to the bank's liquidation as reported by the Nigeria Deposit Insurance Corporation (NDIC).
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According to her, "Johnson is suspected to be the ringleader in the collapse of Gulf Bank Plc.
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"The fraud was characterized by manipulation of records, suppression of information, criminal concealment/ misrepresentations and forgeries of public documents, all leading to colossal loss of funds of the defunct bank.
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"The complainant (NDIC) alleged that this principal suspect, Prince Adekunle Adeyeba Johnson, was a major shareholder and a director in the defunct bank, used his position and through companies he has substantial interest in, defrauded the bank of over N2.5 billion.
Policemen in this country are just doing fine but it is obvious things can get better surely.
He should be treated in the best way confession will take place. The truth has to be told.