Ponzi Scheme Operator Arrested in Uyo (Photo)
Category: Crime News
Operatives of the Economic and Financial Crimes Commission, EFCC, the Uyo Zonal Office have arrested the operator of a grand Ponzi Scheme: “No Burn Global Limited”, Umanah Umanah.
He was arrested in a hotel located at the Osongoma area of Uyo, Akwa Ibom state, following a petition sent to the Commission by one Joseph E. Uko.
Uko alleged that Umanah swindled him of over N2.9million and subsequently issued him a cheque for N500,000 that was never honoured as the account in question was not funded to cover the sum for which the cheque was issued.
According to the petitioner, after several months of expecting to receive his 50% returns on investment, without any success, he decided to get back his invested funds.
But all efforts made by him to get back his money proved abortive as Umanah deserted his office located at Plot 110-Unit D, Ewet Housing Estate, Uyo, and went into hiding until operatives of the Commission smoked him out.
Before his arrest, Umanah, 62, allegedly lured people to invest in his company, by assuring them of a bogus 50% interest within one week.
He allegedly operated smoothly in a number of states, including the Federal Capital Territory (FCT), but denied any knowledge of the petitioner and the evidence of his allegations against him.
While being interrogated, Umanah said: “I am the Chief Executive Officer of No Burn Global Limited. The company is a consultancy and entrepreneurship service provider. It provides information and stimulates ideas. I was shocked to see the cheque as a source of a petition against me. It is my handwriting on the cheque. But I have never met Joseph Ukoh Eboh before in my life”.
However, investigation into the matter revealed that Umanah is the leader of a syndicate of advance fee fraudsters, who had operated in various states like Rivers, Bayelsa, Cross River and Abuja amongst others.
He was also reported to be operating along the West Coast, especially Ghana and Togo.
The commission has vowed to charge the suspect to court after investigation.
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He was arrested in a hotel located at the Osongoma area of Uyo, Akwa Ibom state, following a petition sent to the Commission by one Joseph E. Uko.
Uko alleged that Umanah swindled him of over N2.9million and subsequently issued him a cheque for N500,000 that was never honoured as the account in question was not funded to cover the sum for which the cheque was issued.
According to the petitioner, after several months of expecting to receive his 50% returns on investment, without any success, he decided to get back his invested funds.
But all efforts made by him to get back his money proved abortive as Umanah deserted his office located at Plot 110-Unit D, Ewet Housing Estate, Uyo, and went into hiding until operatives of the Commission smoked him out.
Before his arrest, Umanah, 62, allegedly lured people to invest in his company, by assuring them of a bogus 50% interest within one week.
He allegedly operated smoothly in a number of states, including the Federal Capital Territory (FCT), but denied any knowledge of the petitioner and the evidence of his allegations against him.
While being interrogated, Umanah said: “I am the Chief Executive Officer of No Burn Global Limited. The company is a consultancy and entrepreneurship service provider. It provides information and stimulates ideas. I was shocked to see the cheque as a source of a petition against me. It is my handwriting on the cheque. But I have never met Joseph Ukoh Eboh before in my life”.
However, investigation into the matter revealed that Umanah is the leader of a syndicate of advance fee fraudsters, who had operated in various states like Rivers, Bayelsa, Cross River and Abuja amongst others.
He was also reported to be operating along the West Coast, especially Ghana and Togo.
The commission has vowed to charge the suspect to court after investigation.
Related via Category
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Gunmen Raid Hotel, R.a.p.e Two Lodgers
Mexican Authorities Finds 14 Dead Bodies by Roadside
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