Uno Michael Eke, the CEO of Micheno Multi-Purpose Cooperative Society, has been sentenced to one year in prison for a N2 billion fraud case in Calabar, Cross River State.
Justice Rosemary Dugbo Oghoghorie of the Federal High Court convicted Eke of conspiracy, fraud, and money laundering.
He pleaded guilty to four amended charges brought against him by the Economic and Financial Crimes Commission (EFCC).
According to the charges, between June and August 2018, Eke and his associate, Aya Kanu Aya (who is currently at large), tricked investors into putting money into a fake investment scheme, promising an 80% return within 40 days. One victim, Kubnse Ogar Ebute, lost N2 million to the scam.
Following his guilty plea, EFCC prosecutor Joshua Abolarin requested the court to convict Eke. His lawyer, Ime Umanah, asked for a lighter sentence, citing a plea bargain agreement.
The judge sentenced Eke to one year in prison or an option to pay a N2 million fine.
Additionally, the court ordered the forfeiture of Eke’s properties, including:
12 two-bedroom flats in Calabar
Several plots of land in Cross River State
An 18-flat building near the University of Calabar
N10 million recovered during the investigation
The judge also ruled that all recovered funds be returned to the victims.
Eke was arrested after investigators discovered he had collected large sums of money from unsuspecting victims and funneled N2 billion into his personal and business accounts.
He used the money to buy multiple properties across Calabar.
