In a significant crackdown on financial fraud, the Federal High Court in Calabar, Cross River State, has sentenced Uno Michael Eke, the Chief Executive Officer of Micheno Multi-Purpose Cooperative Society, to one year in prison for his role in a N2 billion scam. The ruling, delivered by Justice Rosemary Dugbo Oghoghorie, followed Eke’s guilty plea to four amended charges filed against him by the Economic and Financial Crimes Commission (EFCC).
According to the EFCC’s Head of Media and Publicity, Dele Oyewale, investigations revealed that Eke lured unsuspecting investors with a fraudulent 80% return on investment (ROI) promise within 40 days. Operating through multiple bank accounts under his name and that of his company, he amassed N2 billion, which he then diverted into real estate acquisitions, including houses and landed properties in Calabar.
Eke’s sentencing not only includes his one-year jail term but also the forfeiture of 12 flats, two plots of land, and 18 self-contained apartments linked to the fraudulent scheme. Additionally, the court ordered the forfeiture of N10 million recovered from him during the investigation.
One of the charges read:
“That you, Uno Michael Eke (being the President/Chief Executive Officer of Micheno Multi-Purpose Cooperative Society); Registered Trustees of Micheno Multi-Purpose Cooperative Society, MMCS, Aya Kanu Aya (Alias Mbakara), being the Vice President of Micheno Multi-Purpose Cooperative Society (now at large), sometime between June and August 2018 in Calabar within the jurisdiction of this Honourable Court, conspired among yourselves to commit an offence to wit: obtaining property by false pretence, thereby committing an offence contrary to Section 8 (a) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006 and punishable under Section 1(3) of the same Act.”
The EFCC emphasized that Eke’s conviction underscores its unwavering commitment to curbing financial crimes and protecting Nigerians from fraudulent investment schemes. The agency reiterated its dedication to ensuring that perpetrators of fraud face the full weight of the law while also striving to recover stolen funds for victims.
This high-profile conviction serves as a stern warning to fraudulent business operators, reinforcing the EFCC’s resolve to clamp down on financial crimes and restore trust in Nigeria’s economic landscape.
PIONEER NEWS 