Ponzi scheme founder in Calabar pleads innocence

The founder of Micheno Micro Cooperative Society, Mr. Michael Eke, has pleaded innocence for the crash of a Ponzi scheme in Calabar, Cross River State.

Eke, who was narrating his ordeal since his detention with the police in August, said before the crash of the scheme, he had informed customers that there was modification in the mode of payment policy and operation of the cooperative.

Micheno Micro Cooperative with head office in Calabar in August announced to its over 27,000 subscribers in over 17 countries including Japan, Australia, South Korea, Ghana, Ukraine Trinidad & Tobago, U.S.A, among others of the changes.

He said the announcement caused panic not only in Calabar, but the entire country, leading to the collapse of the firm.

Talking with newsmen in Calabar yesterday, Eke said he had been incarcerated for three weeks without cause and had in the process come down with a terrible infection, which has become a great threat to his life because he has not received any form of treatment even though he was taken to hospital by the police for a test.

“I came here on my own when I got an invitation to come to the Force Headquarters in Abuja, I was not arrested this time I came on my own. I have also submitted my international passport but surprisingly I was detained here and it is three weeks running without any explanation.

“I want to assure all our subscribers that even if it means this is the only thing I will do before I die, I will gladly dedicate the whole of what is left of my life to paying back their money because I am not a criminal as my detractors want the public to believe.