EFCC arraigns man over N320m Ponzi scheme fraud
The Economic and Financial Crimes Commission (EFCC) has arraigned one Mr Uno Michael Eke of Micheno Multi-Purpose Cooperative Society before Justice Simon Amobeda of the Federal High Court, sitting in Calabar, Cross River State.
He was arraigned on a separate 74-count charge, for allegedly duping innocent Nigerians of over 320 million naira.
Eke had earlier been arraigned by the commission on July 12, 2018 on two separate charges of alleged fraud of N200 million and N301.2 million respectively.
According to reports by the EFCC on Tuesday, the suspect allegedly defrauded his victims through an alleged ponzi scheme by convincing his victims to invest in his Swissgolden packages, through his company, Micheno Multi-Purpose Cooperative Society, under the false pretence of paying them 80 per cent return on investment within just 40 days.
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The report added that when his investors started calling for their capitals and expected interest, he became inaccessible.
After pleading not guilty to the charges levelled against him, the prosecution counsel, T. N. Ndifon, prayed the court for a trial date and for the accused person to be remanded in prison custody.
The defendant was remanded in prison custody, while the matter was adjourned to June 13, 2019, for the hearing of the bail application.
While the suspect is currently behind bars, more victims of his ponzi scheme have continued to throng the Uyo Zonal Office of the Commission with petitions that explain how Eke collected money from one person to pay the other only to default when he could no longer keep up with his deceits.
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