The Economic and Financial Crimes Commission (EFCC) secured the conviction of David Wealth Ezuzu, the chief executive of D.W. Arerben Global Investment, before Justice Efe Ikponmwonba of the Edo State High Court, Benin City, on Tuesday.
The Benin Zonal Command of the EFCC had arraigned Ezuzu on a charge of obtaining funds by false pretence.
Ezuzu took N5 billion from unsuspecting persons on the pretext that he was helping them invest in forex trading.
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Ezuzu pleaded guilty to the charge and Francis Jirbo, the prosecution counsel, prayed the court to convict and sentence him accordingly.
JUDGEMENT
Ikponmwonba convicted and sentenced Ezuzu to three years imprisonment with an option of N2 million fine. The High Court also ordered D.W. Arerben Global Investment to pay N2 million penalty.
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According to the EFCC, Ezuzu’s company is to be wound-up, and its N1,099,503.08 revenue forfeited to the federal government through the EFCC for the purpose of restituting the victims of the crime.
The judge also ordered the forfeiture of N102,131.45 in the defendant’s business account and five other bank accounts. A five-bedroom duplex and security house, landed property situated at Okotomi Layout, landed property at Anieluenonu New Layout, a five-bedroom…
