N250 MILLION FRAUD ROCKS INTERCONTINENTAL BANK

N250 MILLION FRAUD ROCKS INTERCONTINENTAL BANK
Intercontinental Bank Plc has been involved in a fraud following the disappearance of N250million belonging to the Alhaji Rasak Shauibu-led AROCOM which has its head office in Abeokuta.
The Sapon, Abeokuta, Ogun State branch of Intercontinental Bank, where AROCOM opened its account, penultimate week declared the account balance of the pyramid scheme house to be lesser with N250million against the calculations of the teller submitted by the customer of AROCOM. AROCOM which is a pyramid scheme house that empower artisans with tripple amount of money saved, has branches spread across the nations with district coordinators who collect money from participants and pay into a specified Intercontinental account weekly. The payment, according to a south west co-ordinator, will indicate what has been saved by participants and how loan will be granted.
The coordinator revealed that the fraud was revealed when some participants stormed the Abeokuta office of AROCOM to inquire why their loans have to be granted after saving the required amount within the stipulated duration. It was revealed that the tellers show what has been saved, but the account balance was contrary. Investigations revealed that the money saved at Sapon branch of Intercontinental Bank by the participants are the ones among the missing millions.
According to an impeccable source, Alhaji Rasak Shuaibu make it clear to all participants not to save in any Intercontinental Bank until there is a directive from them to do so and he gave an ultimatum of three weeks for the branch manager to produce his N250million or face the wrath of the law.
The source added that the missing N250milions was accumulated within 3months of savings by the participants and that the issue has been creating problem in smooth operation of AROCOM.