EFCC: Man bags 3 years jail term for N5bn investment scam, forfeits 9 properties to FG.
By Naomisophyblog
The Benin zonal command of the
Economic and Financial Crimes
Commission (EFCC), on Tuesday, 5 July, 2022, secured the conviction of David Wealth Ezuzu, an investment fraudster, before Justice Efe Ikponmwonba of the Edo state high court, Benin city.
Ezuzu, who is the Chief Executive Officer (CEO) of Arerben Ventures, an investment company, was arraigned on one count charge of obtaining by false pretence, according to reports.
He was said to have fraudulently obtained over N5 billion from unsuspecting members of the public on the pretext of investment in forex trading.
The charge reads: “That you, David
Wealth Ezuzu (trading under the name and style of Arerben ventures), sometime between 11th January, 2020 and 1st day of March, 2021 in Edo state within the jurisdiction of this honourable court did
transfer the aggregate sum of
N15,2000,000 (fifteen million, two
hundred thousand naira) out of the total sum of N5,458,171,996.95 (five billion, four hundred and fifty-eight million, one hundred and seventy one thousand, nine hundred and ninety-six naira, ninety-five kobo) you received in your Access Bank
account number:0795689642 from
unsuspecting members of the public as investment into Forex trading to your Guarantee Trust Bank 0114467985 in the name of Ezuzu David, knowing that same
represent proceeds of Ezuzu David’s
criminal conduct, to wit: obtaining money by false pretensc and thereby committed an offence contrary to Section 17(a) of the Economic and Financial Crimes Commission (establishment) act, 2004 and punishable under section 17 of the
same act.”
The defendant, however, pleaded guilty to the charge.
However, the defence counsel, A.
In view of his plea, the prosecution
counsel, Francis A. Jirbo, asked the court to convict and sentence him accordingly Afamefena, pleaded with the court to temper justice with mercy as restitution shall be made to the victims of the crime.
Justice Ikponmwonba convicted and
sentenced Ezuzu to three (3) years
imprisonment with an option of N2
million fine, while his company, Arerben Global Investment, was also given a fine of N2 million.
The judge also ordered the forfeiture of N102,131.45 in the defendant’s business account and five other bank accounts (David Wealth Ezuzu, Zenith bank account no: 2179944006; David Ezuzu, Guarantee
Trust Bank account no: 0046882751
David Ezuzu Standard chartered bank account no:5005093998; David Ezuzu, Wema Bank account no :025183759; 0620469522; 0620485793 ; 0620485786;
2009369467, and Sterling Bank account no: 0081931988) to the federal government through the EFCC for the purpose of restituting victims of the crime.
The court further ordered that the
defendant forfeits to the federal
government through the EFCC for the
benefit of the victims of the crime the following properties:
1.5 Bedroom duplex and security house situated at Plot 3 Block 7 KewkagborFamily Layout, off Ibusa road, Asaba, Oshimili South LGA, Delta state.
2. Landed property situated at Okotomi Layout, Obadogwugwu Quarters,Okpanam Quarters, Ibusa road, Asaba, Oshimili North LGA, Delta state.
3. Landed property at Anieluenonu New Layout, Obadogwugwu Quarters, Okpanam, Asaba, Oshimili North LGA,Delta state.
4.5 Bedroom duplex with bungalow
situated at 12 Okwunze Street, off
Stadium Road, Oshimili South LGA,
Delta state.
5. Two bungalows of three bedrooms and 2 bedrooms respectively at Obiaje Family land, off Asaba, Oshimili South LGA Delta state.
6. Landed property, Plot 27 situated at Umayi Umuezeafadia Family land,
Okosolo, Asaba-Benin road in Oshimili South LGA, Delta state.
7. Bungalow situated along R.N. Okonkwo Street, Ogbeowelle Quarters, Okpanam, Oshimili North LGA, Delta state.
8. 26 hectares of land located at Ngbo Ofuke Village, Asaba, Delta state.
Also ordered forfeited by Justice
Ikponmwonba are: one leaflet of
9. Three storey building into 3 places
situated at Obduogwu Family land,
opposite NNPC filling station, Asaba,
Delta state.
Keystone bank manager’s cheque valued (N400,000), 13 leaflets of Zenith bank manager’s cheques valued at N115,000,000, 10 leaflets of Guaranty Trust Bank manager’s cheque valued at N61,700,000.00, 28 leaflets of First City Monument Bank manager’s cheque valued at N33,550,000, and 2 leaflet
UBA manager’s cheque valued at
N300.000.
