The Economic and Financial Crimes Commission, EFCC, has arraigned the registered trustee of Micheno Multi-purpose Cooperative Society, Mr. Uno Michael Eke before Justice Simon Amobeda of the Federal High Court, sitting in Calabar, Cross River State, on a separate 74-count charge, for allegedly obtaining over N320million by false pretence from innocent Nigerians.

Eke allegedly defrauded his victims through an alleged ponzi scheme by inducing his victims to invest in his Swissgolden packages, through his company, Micheno Multi-purpose Cooperative Society, under the false pretence of paying them 80 per cent return on investment within just 40 days.

Eke was said to have duped so many people through the scheme, and when his investors started calling for their capitals and expected interest, he made himself unreachable, both by telephone and in person.

One of the charges 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 N47,000,000 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 on all charges.

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 to June 13, 2019, for the hearing of the bail application.

Eke had previously been arraigned by the Commission on two separate charges of alleged fraud of N200 million and N301.2 million, respectively.
https://thickmatch.com/ponzi-scheme-micheno-boss-remain-prison-n320m-fraud-charge/

How people still fall into this ponzi scam never cease to amaze me. I thought Nigerians would learn after mmm.

joj

If religious leaders can afford the luxuries of life without working, why can't con men...?

After all they are all feeding from the same types of sheeps.

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Idiots

Loom people , howfar ?

He was feeling like a sharp guy when he was defrauding people

Nigerians will not hear word,
That's how my guys doing all these stuffs will not let me hear word, they are always saying this one is better than the other ones

Idiots. Thief jam 419

BruncleZuma:


If pastors can't afford private jets why can't con men...?

BruncleZuma !!!! I don miss your Memes die !!! Colubi bring am back abeg

BruncleZuma:


If pastors can't afford private jets why can't con men...?

So you are encouraging con men abi?
Nonsense

See money chai


Someone should kindly behead him because he'lll be released soon

LET'S BE REAL GREED IS WHAT MAKES PEOPLE FALL VICTIM TO FRAUDSTERS SMH THEIR OFFERS ARE ALWAYS TOO GOOD TO BE TRUE

I am a victim of Micheno. May he rot in jail

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99% OF NIGERIANS ARE SCAMMERS. Directly or indirectly.

Na wao you get 47m you wan multiply

How can someone register a cooperative society and then goes about promising you heaven and earth. It takes a knowledge bankrupt soul to fall for this evil. There's absolutely no correlation between cooperative and Ponzi. The former don't give free money, just loans and nothing more.

These ones in Lagos will tell you to pay N2000 and get N5 million naira to run your business. There is one particular centre in Ogba, they've been expecting money from World Bank for at least 2 years Their members are as well waiting for 5 million start up fund after paying N1500 to a cooperative account at FCMB. How can World Bank ignore CBN, BOI, BOA, and other merchant banks for an unregistered cooperative society with no bye laws, somewhere in Ogba?

To get a loan as high as N5m in any cooperative society, you MUST have a very significant savings running in millions or hundreds of thousands, and you must have been a very trusted and longstanding member. And nope! They don't give free money, but loans that are repayable with INTEREST. There is no FREE money anywhere in Nigeria.

Without proper education, Nigerians will continue to suffer.

Monkey business....

When they talk about yahoo boys, consider their victims like MMM victims maybe that will sink

influenz:
I am a victim of Micheno. May he rot in jail

I am curious to know what convinced you to invest in the ponzi scheme in the first place.

dorox:


I am curious to know what convinced you to invest in the ponzi scheme in the first place.

Me too. After the era of mmm, I wonder why people still fall for these get-rich-quick scam. I guess it's greed? Or stupidity? Or laziness?
But how can someone with #47 m be that stupid?
Sometimes I can't help but think that some African scientific methods are involved.

I don't feel for those he scammed because if any ponzi scheme pops up tomorrow, some Nigerians will put in their money in it.

Government agencies should not wait till the damage has been done before moving against these fraudsters.

The proliferation of various Ponzi schemes after MMM has entered the alarming stage. Heck, they even advertise on radio