N6.3 Billion and N4.7 Billion Financial frauds involving Willie Obiano and four others at fidelity Bank.

Willie Obiano , and some top management staff at Fidelity Bank, ,REGINALD IHEJIAHI, IKEMEFUNA MBAGWU

N6.3 Billion and N4.7 Billion Financial frauds involving Willie Obiano and four others at fidelity Bank.U, SAM OBIJIAKU, BOYE OGUNMOLADE, are alleged to have been involved in financial FRAUD
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TWO ACCOUNTS WITH HUGE DEBIT BALANCES WERE NEVER DISCLOSED TO REGULATORY AUTHORITIES. THE HUGE DEBIT BALANCES WERE DELETED FROM THE OVERDRAFT REPORT AFTER OCTOBER 31st 2005. THE DEBIT BALANCES IN THE ACCOUNTS AS AT OCTOBER 31 2005 

'RE:{1} OIL RECOVERY AND ENVIRONMENTAL SERVICES LTD ....***(N3.3 Billion )

AND ERES N.V LTD ...**(N3.0Billion)

***{2} CAPITAL MARKET FRAUD BY TOP MANAGEMENT OF FIDELITY BANK TO THE TUNE OF N4.7billion. THE OFFICERS INVOLVED ARE SAME. DURING THE BANKS PRIVATE FER. OF 2004 AND INITIAL PUBLIC OFFER OF 2005 THE BANK MANAGEMENT USED DEPOSITORS FUNDS FROM THE VAULT AND PAID INTO THE ACCOUNT OF A NAMED BENEFICIARY IN PLACEMENT OF ANOTHER BANK. THE BENEFIARY USED THE CASH DEPOSITED FOR HIM TO BUY FIDELITY BANK.
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The chief architect behind these fraud is being questioned by the members of law enforcement.