From Matthew Ogune, Abuja
Forex broker arraigned for N2b scam in Uyo
Justice O. J. Enobie of the FCT High Court, sitting in Jabi, Abuja, has convicted and sentenced the director of Asher Trust Investment Limited and Fifteen Network Limited, Daniel Ungbo Silas, to five years imprisonment for fraud.
Silas and his companies were prosecuted by the Economic and Financial Crimes Commission (EFCC) on two-count charges, bordering on criminal breach of trust and dishonest conversion of property to the tune of N128 million.
In addition to his sentence, the convict is to refund N128 million, the proceeds of his crime within 30 days.
The judge also offered him an option of a fine of N200,000 instead of the prison terms.
Silas bagged his imprisonment when he dishonestly converted N128 million which was meant to be changed to United States dollars for his use.
He neither returned the money nor offered the dollar equivalent to his victim.
Also, the Enugu Zonal Directorate of the EFCC on Friday, July 19, arraigned one Rufus John Isip, a self-acclaimed forex broker, before Justice C. S. Onah of the Federal High Court sitting in Uyo, Akwa Ibom State.
He was arraigned alongside his company, ITM-IT Resources Limited, on an eight-count charge bordering on fraudulent conversion, money laundering and obtaining by false pretence of N2 billion.
He pleaded not guilty when the charges were read to him.
Given his plea, Khamis Mahmud, counsel to the EFCC prayed the court to remand him in EFCC custody because “we are still investigating him on other cases”.
The defence counsel, Samson Ewuje however, did not pose any objection.
Justice Onah adjourned the matter till October 14 for trial and the defendant was remanded at the Uyo Zonal Directorate of the EFCC.
Isip was arrested based on a petition from one Michael George, alleging that he lured him to invest in his online trading platform called Vandora.
According to the petitioner, the defendant told him that it was more profitable to trade on his platform with a minimum capital of $100,000 and that he would earn more profit if he involved more investors.
The petitioner thereafter reached out to other investors and companies, who also invested in the defendant’s phoney online trading platform and after 60 days (as agreed) for the investors to start earning their profits, the defendant disappeared into thin air.
