Police Arraign Ponzi Scheme Operator, for Allegedly Defrauding Army Colonel, Professor, Others of N1.2bn
Wale Igbintade
Operatives of the Force Criminal Investigation Department (Force CID), Alagbon, Ikoyi yesterday arraigned before the Federal High Court in Lagos, a Ponzi scheme operator, Michael Ukiye Diongoli, for allegedly defrauding a retired Army Colonel, two professors and MTN staff co-operative society, among others of the sum of N1.286, 580, 656 billion.
Diongoli was arraigned before Justice Ambrose Lewis-Allagoa on an 8-count charge of conspiracy, obtained by false pretence, and fraud.
He was arraigned alongside his two firms, UK-Don Group and UK-Dion Investment Limited.
The defendant was accused of defrauding his victims, under false pretence of multiple Returns On Investment (ROI) within the period of six months to one year.
Some of his victims were: Dr. Basil Onugu, Prof. Oneykachi Green Nwankwo, his wife, Elizabeth U. Onyekachi Green, Nnenna Ikubogh, Securities Ltd, Uchenna Nwankwo, Chinyere Oguejiofor, Sekoni A. Adetokunmo, Catholic Charismatic Renewal, Prof. Iloeje Casmir, Lilllan Ofondu, Suliaman Mamman, MTN Employer Cooperative, Gabriel Andrew, Obieme Adaku K., Col. Chukwu Terngu (Rtd) and others.
The prosecutor, Mrs. Ezema Susan, a Chief Superintendent of Police (CSP) while addressing the court stated that the defendants committed the offences between December 2021and April 2022.
The prosecutor informed the court that the offences contravened Sections 8 (a), 1(1) (a) of the Advance Fee Fraud and other Fraud Related to Offences Act, 2006 and Punishable under Section 1 (3) of the same Act.
The defendant, denied the allegations and pleaded not guilty to the charges.
Following his not guilty plea, his counsel, Mr. Olalekan Ojo (SAN), informed the court that his client’s bail application had been filed and same had been served on the prosecutor.
In her response, the prosecutor told the court that although, the defendant’s lawyer informed her that the bail application had been served on the prosecution, but she was yet to receive it.
She therefore pleaded with the court for short adjournment, to enable respond to it.
Meanwhile, Justice Lewis-Allagoa, has ordered that the defendant be remanded in the Force CID’s custody and adjourned the matter till today for hearing of the bail application.
