Business N7bn Fraud Rocks Skye Bank



Timothy Oguntayo’s led Skye Bank Plc, might have bitten more than they can chew as the financial institution is reportedly in a quagmire over a 7 Billion naira fraud that’s rocking its foundation, #Today reports.

Skye Bank Plc is facing one of the toughest fraud cases of all time; a whopping N7billion suit preferred against it by one of its clients, Jorotom International Agency Nigeria Limited, National Enquirer reports.

According to the statement of claims, the plaintiffs-Jorotom and its subsidiary, National Clearing and Forwarding Agency are alleging fraud, excess charges, greed, high handedness, betrayer and large scale scam on the part of Timothy Oguntayo-led bank and has since sought a legal redress to get its pound of flesh as a result of the monumental racket the bank has perpetrated.

Meanwhile some customers who have heard of the suit are apprehensive about saving their money with the financial institution. Some have opted to withdraw their hard earned money swiftly as at yesterday the 25th of August 2014.

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