Investment owner defrauds investors N179m, spending N139m

The defendant and two others, convinced their victims to participate in a deceitful investment scheme with a fake promise of 15% return on investment 

Nkechi Mercy Ikogwe and two other organizations, Elites Finance Investment Limited and Efinc Global Investment Limited, were summoned before Justice E.A. Obile of the Federal High Court sitting in Port Harcourt, Rivers State, over asserted N179 million theft. 

EFCC summoned them on a three-check charge verging on connivance and acquiring cash by affectation as opposed to Section 1(1) (an) of the Advance Fee Fraud and Other Fraud Related Offenses Act No. 14, 2006 and culpable under Section 1 (3) of a similar Act.  

The lady was said to have utilised the entirety of N139,704,097 of the N179 million on sport wagering and furthermore paid an offering of N1 million to a congregation in Port Harcourt. 

The count read ‘That you Nkechi Mercy Ikogwe, Elites Finance Investment Limited and Efinc Global Investment Limited sometime in 2019 in Port Harcourt, Rivers State within the jurisdiction of this honorable court with intent to defraud, obtained the sum of N179,326,386.62 by inducing unsuspecting members of the public to invest with your companies.

“Elites Finance Investment Limited and Efinc Global Investment Limited, assuring them under a false pretence of making 15% interest on all investment made, a representation 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 No. 14, 2006 and punishable under Section 1 (3) of the same Act.” 

The commission received a report about the defendant and two others, accusing them of inducing their victims into participating in a fraudulent investment scheme with a fake promise of 15% return on investment.

Equity Obile requested that the first respondent, Ikogwe, be remanded in indictment’s authority and deferred the issue till October 19, 2020, for assurance of the bail application.  

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