Mercy Nkechi Ikogwe, a student of the University of Port Harcourt, in the department of Physiology, alongside two companies, Elites Finance Investment Limited and Efinc Global Investment Limited, has been arraigned before Justice E.A. Obile of the Federal High Court sitting in Port Harcourt, Rivers State, on Monday, July 20 2020, over the sum of ₦179m allegedly swindled by the suspects.
They were arraigned on a three-count charge bordering on conspiracy and obtaining money by false pretense by the Economic and Financial Crime Commision (EFCC).
One of the charges against the accused 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 honorable court with intent to defraud, obtained the sum of N179,326,386.62 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 pretense of making 15% 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.”
Upon interrogation, the Uniport student revealed that the sum of ₦139,704,097 was used to play sport betting and also the sum of ₦1 million was used to pay tithe in an undisclosed church in Port Harcourt.
Justice Obile ordered that the first accused, Mercy Nkechi Ikogwe, be remanded in prosecution’s custody.
The case has been adjourned till October 19,2020 for the determination of bail application.