Two Handed 14-Year Jail Sentence For N500k Forex Trading Scam (PICTURED)

Two Handed 14-Year Jail Sentence For N500k Forex Trading Scam (PICTURED)

By Felix Ojong | Sports Reporter on July 12, 2016
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The Economic and Financial Crimes Commission, EFCC on Monday, July 11 2016, secured the conviction of Emmanuel Markus Anga and Atin Victor Generous before Justice Abubakar Jauro of Gombe State High Court on two count charge bordering on conspiracy and obtaining money by false pretense.

According to an e-mailed statement by the EFCC issued on Tuesday, July 12, 2016,  Anga and Generous are alleged to have in November 2013, deceived David Madison, into believing that they were employees of Gora Commanding Resources, a foreign exchange investment concern allegedly owned by Philemon Gora (who is still at large) and tricked their victim into expecting that his investment of five hundred thousand N500,000.00 would yield ten percent (10%) interest on a monthly basis.

“The victim only received the 10 percent interest in the first month of his investment, while all the effort to recover his money proved abortive,” the statement signed by Wilson Uwujaren, spokesperson for the anti-graft agency said.

Count two of the charge reads:

“That you, Emmanuel Markus Anga, Atin Victor Generous and Engr.Philemon Gora (Now at large) sometime in November 2013 at Gombe, within the jurisdiction of this Honorable Court, did fraudulently obtain the sum of five hundred thousand naira (N500, 000.00) from one Mr. David Madison under a false pretense that the said sum was to be invested in foreign exchange trading which sum you never invested, instead diverted same to your own personal use, thereby committed an offence contrary to the provision of Section 1 (1) (a) of the Advance Fee Fraud and Other Fraud Related Offences Act, LFN 2006 and punishable under Section 1 (3) of the same Act”.

Justice Jauro, sentenced the convicts to seven years imprisonment on count one (conspiracy), while Generous bagged another seven years on count two (obtaining by false pretense). The sentences are to run concurrently from July 11, 2016.

Justice Jauro, also ordered Generous to restitute to the victim to the tune of five hundred thousand naira N500, 000.00.

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