Man Arraigned For N42m Investment Scam In Makurdi
The Makurdi Zonal Command of the Economic and Financial Crimes Commission, EFCC, has arraigned one Shagbaor Jeremiah before Justice Abdu Dogo of the Federal High Court sitting in Makurdi, Benue State, on a four count charge for allegedly obtaining Forty Two Million Naira (N42, 000,000.00) by false pretence.
The defendant allegedly used an unregistered investment company, Monipoint Morsha Finance Limited, to defraud subscribers who were promised 1% daily returns on every N1000 invested.
One of the counts reads: “That you, Shagbaor Jeremiah, sometime in November, 2020 at Makurdi, within the jurisdiction of this Honourable Court, did by false pretences and with intent to defraud, obtained money from one Atee James Terhemba the sum of One Hundred Thousand Naira (N100,000.00) only, investment through Morsha Finance Limited, an unregistered company floated by you, under the pretext of paying him 1% interest daily for every N1000.00 invested 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”
The defendant pleaded ‘not guilty’ to the charges when they were read to him.
Upon his plea, the prosecution counsel, Mary Onoja urged the Court to fix a date for trial while the defence counsel, B. A. Iorheghem prayed the Court to grant his client bail.
Justice Dogo granted the defendant bail in the sum of One Million Naira and a surety in like sum.
The surety must be a resident of Benue State and have a landed property valued at N3million with Certificate of Occupancy or a civil servant on GL 10 and above in the Benue State Civil Service, who must present letters of first appointment and last promotion.
The case was adjourned till February 15, 2022 for commencement of trial.
