Uno Eke, the Chief Executive Officer of Micheno Multi-Purpose Cooperative Society, has been sentenced to one year in prison for his involvement in a N2 billion fraud scheme. The conviction, handed down by Justice Rosemary Oghoghorie of the Federal High Court in Calabar, Cross River State, follows Eke’s guilty plea to charges of conspiracy, obtaining property by false pretence, and money laundering.
The Economic and Financial Crimes Commission (EFCC) disclosed the conviction in a statement released on Saturday, detailing how Eke, alongside other members of his cooperative, orchestrated the fraudulent activities. The EFCC charged Eke with multiple offenses, including obtaining large sums of money from unsuspecting victims under the false pretence of offering high returns on investment.
According to the EFCC’s statement, the charges stemmed from actions carried out between June and August 2018, when Eke and his accomplices conspired to defraud people by promising unrealistic returns on investments. One of the charges specifically relates to an incident in July 2018, where Eke deceived a victim, Kubnse Ogar Ebute, into investing N2 million into his cooperative’s scheme, with the false promise of an 80% return within 40 days.
During the court proceedings, Eke pleaded guilty to the charges when they were read to him. The prosecution, represented by Joshua Abolarin, urged the court to impose a conviction in light of the gravity of the offenses. The defense, led by Ime Umanah, requested a lighter sentence, citing a plea bargain agreement.
After considering the evidence and the convict’s plea, Justice Oghoghorie sentenced Eke to one year in prison, with the option of paying a fine of N2 million. Additionally, the court ordered Eke to forfeit several properties, including 12 two-bedroom flats, two large plots of land in Cross River State, and 18 self-contained flats in the Calabar area. The court also ordered the return of N10 million recovered during the investigation.
Eke’s fraudulent activities were discovered when he was arrested for collecting large sums of money from multiple victims, promising them substantial returns on investment. Investigations revealed that Eke used various bank accounts to receive over N2 billion from his victims, which he then used to acquire land and properties in Calabar.
The court further directed that all recovered assets be handed over to the Federal Government, and the proceeds be used to compensate the victims of Eke’s fraudulent activities. The EFCC has vowed to continue its efforts to ensure justice for victims of financial crimes and to deter others from engaging in similar illegal activities.
