Our reporter
The CEO of Micheno Multi-Purpose Cooperative Society, Uno Michael Eke, has been sentenced to one year in prison for his role in a multi-million naira fraud. The Federal High Court in Calabar, under Justice Rosemary Dugbo Oghoghorie, found Eke guilty of conspiracy, obtaining property under false pretenses, and money laundering, amounting to a total of N2 billion.
Eke was convicted after pleading guilty to four charges brought against him by the Uyo Zonal Directorate of the Economic and Financial Crimes Commission (EFCC). The charges stemmed from fraudulent activities he carried out between June and August 2018, alongside the registered trustees of the cooperative, including the now-fugitive Vice President, Aya Kanu Aya.
The first charge involved Eke’s conspiracy to obtain property under false pretenses by misrepresenting investment opportunities, a violation of the Advance Fee Fraud and Other Fraud-Related Offences Act. He was also found guilty of convincing an individual, Kubnse Ogar Ebute, to invest N2 million in his cooperative in exchange for an 80% return on investment within 40 days — a promise that never materialised.
Following his guilty plea, prosecution counsel Joshua Abolarin urged the court to impose a stringent sentence. However, defence counsel Ime Umanah requested a more lenient punishment, citing the plea bargain agreement.
In addition to the one-year prison sentence, Justice Oghoghorie imposed a fine of N2 million as an alternative to imprisonment. Eke was also ordered to forfeit several assets to the Federal Government, including twelve two-bedroom flats and eighteen self-contained flats in Calabar, two plots of land in Odukpani and Calabar, and N10 million recovered during the investigation. The judge further directed that all funds recovered be used to compensate the victims of the fraudulent scheme.
Eke’s conviction follows a detailed investigation that revealed how he raised N2 billion by opening multiple bank accounts in his name and that of the cooperative. He used the funds to acquire substantial properties in Calabar, while misleading investors with false promises of high returns.
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