Ponzi Scheme: Micheno boss to remain in prison over N320m fraud charge

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 N320 million (Three Hundred and Twenty Million) 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.

With this enticing bait, Eke 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.

Leave a Reply

Your email address will not be published. Required fields are marked *