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EFCC arraigns alleged notorious ponzi scheme operator - EFCC arraigns alleged notorious ponzi scheme operator

EFCC arraigns alleged notorious ponzi scheme operator

The Uyo zonal workplace of the Financial and Monetary Crimes Fee, (EFCC) has arraigned an alleged infamous ponzi scheme operator, Umanah Umanah.

Umanah was arraigned on Friday, October 16, 2020 on a two-count cost bordering on forgery, acquiring by false pretence, fraud and issuance of dud cheque earlier than Justice Agatha Okeke of the Federal Excessive Courtroom sitting in Uyo, Akwa Ibom State.

The accused, a 62-year-old serial fraudster, who specialised in luring individuals to investing in his firm, “No Burn International Restricted” with a false assurance of a bogus 50% weekly curiosity, was arrested by operatives of the Commissions on July 1, 2020, at a resort situated in Osongoma space of Uyo.

His arrest, in keeping with a press release made obtainable to DAILY POST on Friday by the Public Relations Officer, Tessy Thompson, adopted a petition by one in all his victims who alleged that Umanah swindled him of over N2.9m (Two million, 9 hundred thousand naira) and subsequently issued him a cheque for N500,000 (5 hundred thousand naira) which returned unpaid because the account was not funded to cowl the sum on the cheque.

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In response to the petitioner, he made efforts to get better his invested capital, however all proved abortive as Umanah shortly went into hiding and stopped taking his calls.

The assertion additional mentioned that the investigations performed by the Fee revealed that the accused runs a infamous gang of superior price fraud syndicates working in a number of states of the Federation, together with the Federal Capital Territory. The zone has acquired over seventy petitions in opposition to Umanah Umanah and nonetheless counting.

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One of many chargesf or which Umanah was docked, reads: “That you just Umanah Ekaette Umanah on or concerning the thirty first day of July, 2017 at Uyo, throughout the jurisdiction of this Honourable Courtroom did make a cast doc to wit: United Financial institution of Africa (UBA) cheque with cheque quantity: 73131308 of No Burn International Stakeholders Multipurpose by appending your signature on the mentioned cheque leaflet when not being a signatory to the account of No Burn International Stakeholders Multipurpose domiciled with UBA, figuring out similar to be false and with the intent that it might be acted upon as real and thereby dedicated an offence opposite to Part 1 (2) (c) of the Miscellaneous Offences Act Cap M17 of the Revised Version ( Legal guidelines of the Federation of Nigeria) 2007 and punishable underneath Part 1 (2) of the identical Act”.

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Whereas taking his plea, Umanah pleaded, “not responsible” to the cost most popular in opposition to him. In view of his plea, Adebayo Soares, Counsel to the EFCC, prayed the courtroom to remand the accused within the custody of the Nigeria Correctional Service, and repair a date for trial to allow the prosecution show its case in opposition to the accused.

The matter was, thereafter, adjourned to November 9, 2020 for listening to of bail software whereas the accused was remanded within the custody of the Nigeria Correctional Service in Uyo, Akwa Ibom State.

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