Woman defrauds investors N15m, uses N139m on sports betting, N1m for tithes

Juliana Francis

A woman, Nkechi Mercy Ikogwe and her companies, Elites Finance Investment Limited and Efinc Global Investment Limited, were on Monday arraigned for using N139million of investors’ money on Sports betting and Spent another N1millon on payment of church tithes.  

Ikogwe was arraigned by the Economic and Financial Crimes Commission (EFCC), Port Harcourt Zonal Office, before Justice E.A Obile of the Federal High Court on a three count charge bordering on Conspiracy and Obtaining Money by false Pretence contrary to Section 1(1) (a) of the Advance Fee Fraud and Other Fraud Related Offences Act No. 14, 2006  and punishable under Section 1 (3) of the same Act.

Ikogwe ran into trouble after the Commission received a report  about the defendant and two others,  accusing them of inducing victims into participating in a fraudulent  investment scheme with a fake promise of 15 per cent return on investment.

The EFCC spokesman, Dele Oyewale, said that over N15,000,000.00 was paid by the unsuspecting 'investors' into the defendant’s accounts, Nkechi Mercy Ikogwe with account numbers 2087478165 domiciled in Zenith Bank and Miss Joy Okari Ibiala 2099253758 domiciled in UBA.

“Further investigation revealed that the defendant spent a total sum of N139,704,097 collected from subscribers to play sport betting and also paid tithe of N1m to a leading Pentecostal church in Port Harcourt,” said Oyewale.

The defendants pleaded “not guilty” when the charges were read to them.

One of the counts read: "That you Nkechi Mercy Ikogwe, Elites Finance Investment Limited and Efinc Global Investment Limited sometime in 2019 in Port Harcourt, Rivers State within the jurisdiction of this honourable court with intent to defraud, obtained the sum of 179,326,386.62 by inducing unsuspecting members of the public to invest with your companies: Elites Finance Investment Limited and Efinc Global Investment Limited, assuring them under a false pretence of making 15 per cent interest on all investment made, a representation you knew to be false, and thereby committed an offence contrary to Section 1(1) (a) of the Advance Fee Fraud and Other Fraud Related Offences Act No. 14, 2006  and punishable under Section 1 (3) of the same Act.”

In view of the plea by the defendants, prosecuting counsel, K. W Chukwuma-Eneh prayed the court to fix a date for commencement of trial.

But counsel to the defendants, G. N Godwins moved an oral  application  for the bail of the defendants which was opposed by the prosecution on the ground that the application must be in writing, and properly addressed to the court.

Justice Obile ordered that the 1st defendant be remanded in prosecution's custody and adjourned the matter till October 19,2020 for determination of the bail application.