Kano Court Convicts Woman For Engaging In Fake Investment, Orders Her To Return N110m To Victims
In his ruling, Justice Lewis Allagoa ordered her to pay her victims the sum of N110,000,000 as a compensation.
by SaharaReporters, New York
Mar 03, 2021
A Federal High Court sitting in Kano, on Tuesday, convicted a woman. Maryam Abu Shinga on one count of the preservation of proceeds of crime.
In his ruling, Justice Lewis Allagoa ordered her to pay her victims the sum of N110,000,000 as a compensation.
Shinga was reported to have deceived her victims into a sham gold mining investment, claiming the depositor stood to earn 300% profit.
A ponzi scheme operator, Maryam Abu Shinga, has been convicted by Justice Lewis Allagoa of the Federal High Court, Kano. DAILY POST reports that the court
Court Convicts Ponzi Scheme Operator In Kano, Orders Return of N110m To Victims channelstv.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from channelstv.com Daily Mail and Mail on Sunday newspapers.
Court convicts Ponzi scheme operator, orders restitution of N110 million
The convict lured victims into a phony gold mining investment that she promised would yield 300 per cent profit within four weeks.
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The Federal High Court in Kano has convicted Maryam Abu Shinga for retaining proceeds of crime.
A statement by the Economic and Financial Crimes Commission (EFCC) on Wednesday stated that the judge, Lewis Allagoa, passed his judgment on the convict on Tuesday.
The statement added that the convict entered a plea bargain agreement with the prosecution that saw the judge sentence her to pay N110, 000,000 in restitution to victims.