https://thestreetjournal.org/cross-river-court-sentences-micheno-cooperative-ceo-to-1-year-in-prison-for-n2bn-fraud-money-laundering/

The Chief Executive Officer (CEO) of Micheno Multi-Purpose Cooperative Society, Uno Eke, has been sentenced to a one-year prison term for conspiracy, fraudulent property acquisition, and money laundering totalling N2 billion.

The Economic and Financial Crimes Commission (EFCC) confirmed the conviction in a statement posted on its verified X handle on Saturday, February 22.

The EFCC stated that Justice Rosemary Oghoghorie of the Federal High Court in Calabar, Cross River State, found Eke guilty after he pleaded to four amended charges filed by the commission’s Uyo Zonal Directorate.

“Justice Rosemary Dugbo Oghoghorie of the Federal High Court sitting in Calabar has convicted and sentenced the Chief Executive Officer, Micheno Multi-purpose Cooperative Society, Uno Michael Eke to 1-year imprisonment for conspiracy, obtaining property by false pretence and money laundering to the tune of N2bn,” the statement read.

The EFCCpresented the charges against Eke, with Count One stating: “That you, Uno Michael Eke (being the President/Chief Executive Officer of Micheno Multi-Purpose Cooperative Society); Registered Trustees of Micheno Multi Purpose Cooperative Society, MMCS, Aya Kanu Aya, (Alias Mbakara) being the Vice President of Micheno Multi-Purpose Cooperative Society (now at large), sometime between June and August 2018 in Calabar within the jurisdiction of this Honourable Court, conspired among yourselves to commit an offence to wit: obtaining property by false pretence and you thereby committed an offence contrary to Section 8 (a) of the Advance Fee Fraud and other Fraud Related Offences Act, 2006 and punishable under Section 1(3) of the same Act’.”

“That you, Uno Michael Eke (being the President/Chief Executive Officer of Micheno Multi-Purpose Cooperative Society), Registered Trustees of Micheno Multi-Purpose Cooperative Society, MMCS, Aya Kanu Aya (Alias Mbakara) being the Vice President of Micheno Multi-Purpose Cooperative Society (now at large), 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 Two Million Naira (N2,000,000.00) from one Kubnse Ogar Ebute by inducing her to invest the money into your Swiss golden 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 40th day of his investment, which you knew to be false and thereby committed an Offence contrary to Section 1 (1) (b) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006 and punishable under Section 1(3) of the same Act,” another charge read.

Eke admitted guilt when the charges were formally presented in court.

Prosecuting counsel Joshua Abolarin requested the court to convict him in line with the charges, while defense counsel Ime Umanah appealed for leniency, referencing a plea bargain agreement.

After reviewing the plea and the evidence presented, the judge sentenced Eke to one year in prison, with the option of a ₦2 million fine.

“Also, the convict was ordered to forfeit the following to the Federal Government of Nigeria: 12 flats of two bedrooms each located at Goodluck Jonathan bypass, Calabar, Cross River State, two plots of land (4.162 hectares and 3.391 hectares) both located at Adiabo Ikot Mboout Community Land, Odupkpani Local Government Area, Cross River State, two plots of land located at Akai Effa, Calabar Municipality, Cross River State and 18 self-contained flats (storey building), located beside University of Calabar, Ita-Agbor, Calabar, Cross River State and N10m recovered during investigation,” the statement further stated.

The court also mandated that all recovered funds be returned to the victims of the fraud.

Eke’s legal troubles began after he was arrested for defrauding multiple individuals by promising an 80% return on investment within 40 days.

Investigations uncovered that he managed several bank accounts where he collected ₦2 billion from unsuspecting victims.

Instead of fulfilling his promises, he used the funds to purchase real estate and properties in Calabar.