EFCC Secures Conviction of Two in Onitsha Over N39.5m Fraud

The Economic and Financial Crimes Commission (EFCC) has successfully secured the conviction of Ikechukwu Obiekwe and Ugo Chukwudi for their involvement in a significant fraud case amounting to N39,528,530. Justice Victoria Nwoye of the Anambra State High Court, sitting in Onitsha, delivered the verdict, sentencing both individuals to prison terms. The Enugu Zonal Directorate of the EFCC prosecuted the duo on a 10-count charge, which included conspiracy, fraudulent conversion, stealing, and retention of proceeds of crime.

Conviction Details and Charges

Justice Nwoye’s court heard that Obiekwe and Chukwudi engaged in fraudulent activities between 2016 and 2018, leading to substantial financial losses for Rainbow Hair International Company Limited. Count two of the charges specifically detailed Obiekwe’s fraudulent conversion of N18,145,530, violating Section 342 of CAP 30, Criminal Code Law of Anambra State, and punishable under Section 353 (6) of the same law. Similarly, count three highlighted Chukwudi’s role in transferring N5,399,000 to a Stanbic IBTC Bank account, knowing the funds were part of the proceeds of crime.

The EFCC presented a robust case against the defendants. Prosecution counsel Mainforce Adaka Ekwu called six witnesses and submitted numerous documents as evidence. The court, convinced by the prosecution’s arguments, found both men guilty and sentenced them to one year imprisonment each without the option of a fine. Additionally, the court ordered the forfeiture of the N39,528,530 to the victim.

Prosecution and Sentencing

The case’s background reveals a well-orchestrated fraud, with Obiekwe, an apprentice at Rainbow Hair International Company Limited, exploiting his position to embezzle funds. The victim’s petition to the EFCC on May 19, 2019, set the investigation in motion. Obiekwe was found to have diverted N39,528,530 from the company’s sales account and, upon confrontation, denied the allegations and absconded. The EFCC’s investigation uncovered that Chukwudi aided in laundering the stolen money through various accounts.

Justice Nwoye’s ruling on July 9, 2024, marked the culmination of a meticulous legal process. The court emphasized the severity of their actions and the need for accountability. By sentencing the convicts to prison and ordering the restitution of the stolen funds, the court aimed to deter similar crimes and provide justice to the victimized company.

Implications and EFCC’s Role

The successful conviction of Obiekwe and Chukwudi underscores the EFCC’s commitment to combating financial crimes in Nigeria. This case highlights the Commission’s thorough investigative processes and the judicial system’s readiness to prosecute offenders. The forfeiture order further demonstrates the EFCC’s effectiveness in ensuring that victims of financial crimes receive restitution.

This case also serves as a cautionary tale for businesses and individuals about the risks of internal fraud. It emphasizes the importance of robust financial controls and oversight mechanisms within organizations. The EFCC’s vigilance and proactive approach in addressing fraud cases are critical in maintaining financial integrity and trust in the Nigerian economic system.

The conviction of Ikechukwu Obiekwe and Ugo Chukwudi for N39.5 million fraud reflects a significant victory for the EFCC and the judicial system. It reinforces the message that financial crimes will be thoroughly investigated and prosecuted, and that justice will be served for victims of such crimes.

In Another Feat EFCC Secures Conviction of Six Internet Fraudsters in Calabar

Justice Ijeoma Ojukwu of the Federal High Court in Calabar has convicted and sentenced six internet fraudsters to six months imprisonment each for crimes involving criminal impersonation, love scams, and identity theft. The convicts, who were found guilty of defrauding individuals by posing as various personas online, are Chibo Udoka (alias Zxoya Andric, Kelly Rose, Chimata Harry), John Inimfon Okpokpo (alias Grace Boar), Emediong Ekerete Bassey (alias Thiwe Ploka), Otu Ginikachi Samuel (alias Chris Hemsworth), Goodluck John Bassey (alias Tom Jones), and Asogwa Ifebuche Lukas (alias Daniela Crystal).

The Uyo Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) charged these individuals to court on separate two-count charges. Each pleaded guilty to the charges, prompting the prosecution counsel, Khamis Mahmud, to urge the court to convict and sentence them accordingly. In response, the defense counsels—Udeme Tom, Innocent Ekeize, and Henry Effiong—requested lighter sentences, arguing that their clients were first-time offenders.

Court Sentences and Restitution Orders

Following their guilty pleas and after considering submissions from both the prosecution and defense, Justice Ojukwu sentenced Emediong Bassey, Otu Samuel, Asogwa Lucas, and John Okpokpo to six months imprisonment on each of the two counts, with sentences to run concurrently. Goodluck Bassey and Chibo Mgborogwu received six months jail terms each on one count. The convicts were also given the option to pay a fine of Five Hundred Thousand Naira (N500,000) each.

In addition to the prison sentences and fines, the court ordered four of the convicts to make restitution: Emediong Bassey was to pay One Thousand Five Hundred Rands (R1500); Otu Samuel, One Million Naira (N1,000,000); John Okpokpo, One Hundred and Fifty United States Dollars ($150); and Asogwa Lucas, One Hundred United States Dollars ($100). Furthermore, all gadgets used in committing the crimes were forfeited to the Federal Government.

Arrests and Investigation

The EFCC’s successful prosecution followed the arrests of the six convicts in Uyo between May and June 2024. Acting on verified intelligence reports concerning their fraudulent online activities, EFCC operatives apprehended the suspects. The court’s decision highlights ongoing efforts by the EFCC to combat internet fraud and bring perpetrators to justice.

The conviction of these fraudsters underscores the commitment of Nigerian authorities to tackling cybercrime and serves as a deterrent to others engaged in similar illegal activities. As internet fraud continues to pose a significant threat, the EFCC’s proactive measures and successful prosecutions remain vital in protecting both local and international victims from online scams.