Eke Ponzi scheme operator to remain in jail over N320m fraud

The Economic and Financial Crimes Commission, EFCC, has arraigned Mr. Uno Michael Eke before Justice Simon Amobeda of the Federal High Court, Calabar, Cross River State, on a new 74-count charge, for defrauding unsuspecting Nigerians of N320 million.

Eke is the registered trustee of Micheno Multi-purpose Cooperative Society based in Cross River.

Eke, allegedly defrauded his victims through a Ponzi scheme by luring them with a 80 percent interest in 40 days, if they invest in his Swissgolden packages, operated by Micheno Multi-purpose Cooperative Society.

With this bait, Eke duped so many people through the scheme, and when his investors started calling for their capital and expected interest, he made himself incommunicado.

One of the 74-count charge against him reads: “That you, Uno Michael Eke (being the president/chief executive officer of Micheno Multi-purpose Cooperative Society) and registered trustees of Micheno Multi-purpose Cooperative Society (MMCS) on or about the 12th day of July, 2018 in Calabar within the jurisdiction of this honourable court, with intent to defraud, did obtain the sum of Forty-seven Million Naira (N47,000,000.00) from one Briggs Nimi Osim by inducing her to invest same into your Swissgolden packages through your Micheno Multi-purpose Cooperative Society Ltd, under the false pretence of paying her 80% as return on investment on her principal sum on the fortieth day of her investment, which pretence you knew to be false and thereby committed an offence contrary to Section 1 (1) (a) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006 and punishable under Section 1 (3) of the same Act”.

He pleaded not guilty to the charge.

In view of his not guilty plea, the prosecution counsel, T. N. Ndifon, prayed the court for a trial date and for the accused person to be remanded in prison custody.

The defendant was remanded in prison custody, while the matter was adjourned till June 13, 2019, for the hearing of the bail application.

Eke had previously been arraigned by the EFCC on two separate counts of alleged fraud of N200 million and N301.2 million respectively.

He is in prison custody, even as more victims of his Ponzi scheme continue to throng the Uyo Zonal Office of the Commission with petitions alleging how Eke collected money from one person to pay the other, only to renege when he could no longer sustain his tricks.