Lagos State High Court in Igbosere on Friday convicted and jailed two hackers, who defrauded Union Bank to the tune of N2.55bn.

The convicts, Abass Mohammed and Ibrahim Saidu Jogal, bagged one and three years’ imprisonment, respectively.

Mr K.A. Jose, who pronounced the verdict, also ordered that a total of $464,000, a car and a landed property recovered from the convicts by  Economic and Financial Crimes Commission be returned to the defrauded bank.

According to a statement on Friday by the Head, Media and Publicity at the Economic and Financial Crimes Commission, Mr  Dele Oyewale, the court found the convicts guilty on two out of the three counts filed against them.

Oyewale said the prosecution of the convicts followed a petition by Union Bank that its Flexcube database was hacked by fraudsters who made away with N2.55bn belonging to the bank.

He said, “Investigation into the petition revealed that the said money was fraudulently credited into the accounts of mostly Bureau De Change operators, including one Jaxmine BDC, Gona BDC and Great Well Communication.

“It was further revealed that Mohammed sourced for the account details of Jaxmine BDC from one of his friends, Lawal Ubah, who was a signatory to the account, and subsequently gave the details to one Salisu Liman (aka Zico), the ring leader of the syndicate.

“N450m was then credited into the account. Subsequently, N79m was transferred from the account of Jaxmine BDC into the account of Digare BDC owned by Jogal for the purpose of buying $500,000.

“Further investigations revealed that Jogal only paid $80,000 to Mohammed and kept the balance of $420,000.’’

“Jogal, investigations also revealed, said that he got information that the money was not genuine but fraudulent, thereby prompting Mohammed to open up to him that the money was stolen.

Punch