Uno Michael Eke, the CEO of Micheno Multi-purpose Cooperative Society, has been sentenced to one year in prison for defrauding unsuspecting victims of N2 billion. Eke pleaded guilty to four-count amended charges, including conspiracy, obtaining property by false pretence, and money laundering.The scheme, which promised investors an 80% return on investment within 40 days, was able to collect N2 billion from over 13,000 victims.
Eke used the funds to acquire landed properties and houses in Calabar, Cross River State.In addition to his prison sentence, Eke was ordered to forfeit several properties, including:-
- Twelve 2-bedroom flats located by Goodluck Jonathan bypass, Calabar River State.
- Two plots of land located at Adiabo Ikot Mboout Community Land, Odupkpani Local Government Area, Cross River State-
- Eighteen self-contained flats located beside University of Calabar, Ita-Agbor, Calabar, Cross River State-
- N10 million* recovered during investigation.
The judge also ordered that all monies recovered from Eke should be restituted to the victims listed in all the charges.
