Criminal Law

Law graduate convicted over Ponzi scheme

The Kaduna Zonal Command of the Economic and Financial Crimes Commission, EFCC on March 14, 2022, secured the conviction and sentencing of one Ekuma-Ezeogo Fabian Tochukwu before Justice Darius Khobo of the Kaduna State High Court, for criminal misappropriation.

Trouble started for the defendant when he created a fake Facebook account using the name, Ogboi Ijeoma to defraud victims and lured one Duniya Precious Theophilu and her friends into investing N170, 000.00 in an online Ponzi investment scheme called Jian Investment. After the payments, the defendant blocked the complainant from further communication.

The amended charge reads: “That you, Ekuma-Ezeogo Fabian Tochukwu, “M” sometimes between the months of May and June, 2020, in Kaduna, within the jurisdiction of this Honourable Court, dishonestly misappropriated the sum of N170,000 only paid to you by one Duniya Precious Theophilus for Jian Investment, which you promised to give Hundred Percent interest of money paid to you as return on investment, a pretence you knew to be false, and you thereby committed an offence contrary to Section 293 of the Penal Code of Law of Kaduna State, 2017 and punishable under Section 294 of the same law”.

The defendant pleaded guilty to the charge when it was read to him.

Upon his guilty plea, the prosecution counsel, Matiyak Yoshiya and the defense counsel Eli Mutum asked the court to enter the plea bargain agreement as the judgment of the court.

Justice Khobo, thereafter convicted and sentenced the defendant to 10 years imprisonment with option of N100,000 fine.

The defendant had restituted the sum of N170, 000.00(One Hundred and Seventy Thousand Naira), being proceeds of the crime, to the complainant.

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