The Federal High Court in Port Harcourt, Rivers State, has convicted and sentenced a Ponzi scheme operator, Umoren Edet, to seven years imprisonment for obtaining money under false pretence and issuance of dud cheques.A statement by the spokesperson for the, Wilson Uwujaren, said Mr Edet was jailed on Friday, June 18, 2021.
The judge, A.T. Mohammed, convicted him after he pleaded guilty to one count of advance fee fraud and ordered him to refund the N7 million proceeds of the crime, the statement added. According to the EFCC, Mr Edet was originally arraigned on Thursday, June 28, 2018 on the same one- count charge and he pleaded “not guilty” to the charge, leading to a trial that lasted three years.“Specifically, Edet collected a sum of N7, 000,000 from a petitioner ostensibly for bitcoin transactions. He neither transacted the business nor returned the invested money to the petitioner. This is contrary to Section 1 of the Advance Fee Fraud and Other Fraud Related Offences Act No.
Prosecuting counsel, Celestina Okorie, presented three witnesses against the convict, while the defence counsel, I. Ekwu, presented three witnesses. In his judgment, Mr Mohammed found Mr Edet guilty as charged. The defendant “was convicted and sentenced to seven years imprisonment without an option of fine.”“He also ordered that the sum of seven million Naira he defrauded the victim be returned to her,” EFCC also said.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: DailyPostNGR - 🏆 11. / 59 Read more »
Source: MobilePunch - 🏆 8. / 63 Read more »
Source: Daily Trust - 🏆 13. / 51 Read more »
Source: THISDAY LIVE - 🏆 14. / 51 Read more »
Source: DailyPostNGR - 🏆 11. / 59 Read more »
Source: PremiumTimesng - 🏆 3. / 78 Read more »