Wia dis foto come from, EFCC
Di Uyo Zonal Command of di Economic and Financial Crimes Commission, EFCC, don secure di conviction and sentencing of one notorious Ponzi scheme operator, Umanah Umanah to 20 years imprisonment before Justice Agatha Okeke of di Federal High Court Uyo, Akwa Ibom State on 8 March 2022.
Na 2020 di case start wen operatives of EFCC arrest Umanah following petition by one of im victims, wey allege say Umanah dupe am of over N2.9million (two million, nine hundred Thousand Naira) and give am N500, 000. 00 (Five hundred thousand naira) cheque, wey bounce as di bank dishonor am because di account no dey funded.
During investigation, EFCC discover say Umanah lure im victims through big-big promises of return on investment of up to 50% in seven days through im company, No Burn Global Limited, wey get network for several States of di federation.
Di court find am guilty on di two count charge bordering on false issuance of dud cheque and obtaining by false pretense to di turn of N2.9 million naira
Justice Okeke sentence Umana to ten years imprisonment on each count, wey go run concurrently, starting from di date of im arrest.
Before EFCC arrest am, Umanah Umanah don defraud many many victims, both within and outside di country.
Oda times pipo don fall victim to Ponzi schemes
Umanah Umanah na one of di popular ponzi schemes many Nigerians fall victim to.
But despite warnings from financial regulatory bodies for Nigeria like Central Bank of…
