In News by Oluwaseun Samuel on the 17th, October, 2020

Alleged Infamous Ponzi Scheme Operator Lastly Arrested At Lodge In Akwa Ibom

Alleged Notorious Ponzi Scheme Operator Finally Arrested At Hotel In Akwa Ibom

Ponzi scheme operator

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An alleged infamous ponzi scheme operator, recognized as Umanah Umanah, has been nabbed.

The person has been arraigned by the Uyo zonal workplace of the Financial and Monetary Crimes Fee, (EFCC), Day by day Publish studies.

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 World 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 positioned in Osongoma space of Uyo.

His arrest, in line with a press release made accessible to DAILY POST on Friday by the Public Relations Officer, Tessy Thompson, adopted a petition by one among 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.

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

The assertion additional stated that the investigations carried out by the Fee revealed that the accused runs a infamous gang of superior charge fraud syndicates working in a number of states of the Federation, together with the Federal Capital Territory. The zone has obtained over seventy petitions towards Umanah Umanah and nonetheless counting.

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One of many chargesf or which Umanah was docked, reads: “That you simply Umanah Ekaette Umanah on or concerning the 31st day of July, 2017 at Uyo, inside 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 World Stakeholders Multipurpose by appending your signature on the stated cheque leaflet when not being a signatory to the account of No Burn World Stakeholders Multipurpose domiciled with UBA, understanding identical to be false and with the intent that it could 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”.

Whereas taking his plea, Umanah pleaded, “not responsible” to the cost most well-liked towards him. In view of his plea, Adebayo Soares, Counsel to the EFCC, prayed the court docket 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 towards 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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