See The Law Graduate Who Was Convicted Over Ponzi Scheme
The Economic and Financial Crimes Commission (EFCC), Kaduna Zonal Command has yesterday secured the conviction of one Ekuma-Ezeogo Fabian Tochukwu in Kaduna.
Fabian Tochukwu was arraigned before the Kaduna State High Court, on charges bothering on criminal and financial misappropriation.
Africa Investigative Magazine gathered that the convict goes as a Ponzi Scheme operator who lured his unsuspected victims to invest certain amount of money to get 100% in return.
It was further gathered that the fake Ponzi scheme operator later activated a Facebook account using another name, ‘Ogboi Ijeoma’ to press home his unlawful act.
The table turned after he persuaded one Duniya Precious Theopilus and her friends to invest the sum N170, 000 (one hundred and seventy thousand naira only) in his ponzi scheme to get N340, 000 in return.
After paying the operator the requested amount, Fabian Tochukwu blocked his victims from all their channels of communication; an act that made the complainants to report to EFCC.
According to the court, Tochukwu, sometimes between the months of May and June 2020, in Kaduna, dishonestly misappropriated the sum of N170,000 (One Hundred and Seventy Thousand Naira) only paid to him by one Duniya Precious Theophilus for Jian Investment, which he promised to give Hundred Percent interest of money paid as return on investment.
The defendant who operates Jian Investment Scheme pleaded guilty to the charges when it was read to him.
Delivering judgment, Justice Darius Khobo said the offense is contrary to Section 293 of the Penal Code of Law of Kaduna State, 2017 and punishable under Section 294 of the same Law and sentenced him accordingly.
