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.
The defendants were re-arraigned on amended 23 counts of obtaining money by false pretence, money laundering and abuse of office involving about N2,894, 500,000.
EFCC re-arraigns fmr SA to NDDC MD, George Turnah, others for N2.9bn fraud 12 hours ago
The Economic and Financial Crimes Commission has re-arraigned George Turnah, former Special Adviser to Dan Abia, erstwhile managing director of Niger Delta Commission, NDDC, and two others alongside nine companies, before Justice Mohammed Turaki of the Federal High Court sitting in Port Harcourt Rivers State.
A statement issued by the EFCC spokesman Wilson Uwajaren on Monday, said they were re-arraigned on January 22, 2021 on amended twenty-three count charge bordering on obtaining money by false pretense, money laundering and abuse of office to the tune of N2,894,500,000 (Two Billion, Eight Hundred and Ninety-four Million, Five Hundred Thousand Naira).