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N84.6 Million Fraud: EFCC Arraigns Owner Of Enugu Wonder Bank

From  Ignatius Okpara,  Enugu

(AFRICAN EXAMINER) – The Economic and Financial Crimes Commission, EFCC at the Federal High Court, Enugu presided over by Justice A. M. Liman arraigned the operator of a popular wonder bank in Enugu, Mr. Kingsley Ubenyi and his company, Ksley Mega Vision Limited on a 62 count charge.

African Examiner reports that the charge bothered  on illegal operation of a financial institution and obtaining the sum of N84.600,000 (Eighty Four Million, Six Hundred Thousand Naira) from hundreds of victims.

The offence according to the charge was contrary to section 44(1) of the Banks and other Financial Institutions Act, Cap B3, Laws of the Federation, 2004 and punishable under Section 44(2) of the same Act.

His arraignment followed hundreds of petitions from parts of Nigeria alleging that he advertised and solicited for funds from the general public with the promise of 10% return on investment with his company which pretence he knew to be false.

However, investigation carried out on the company by the anti-graft agency revealed that he was not registered nor given license to operate by the Central Bank of Nigeria,  CBN, the Security and Exchange Commission  SEC as well as the Nigeria Deposit Insurance Company, NDIC to solicit and manage funds for the public.

It was also revealed that billions of naira were deposited into his various  accounts with FCMB, UBA, Diamond, First Bank, Heritage Bank, Fidelity, Skye bank among others which were often withdrawn purportedly for personal use.

Ubenyi , pleaded not guilty to all the count charge preferred against him. In view of the accused person’s plea, the prosecuting counsel led by Barr. M. Bello applied for a trial date but the defense counsel Barr. Ike Ozor on the other hand informed the court of a motion for bail.

In opposing the application for bail, prosecution posited that the accused may jump bail since he is not married nor had any child, an argument upheld by the presiding Judge who ordered that the accused be remanded in prison custody and thereafter adjourned the matter to 25th May, 2017 for hearing.

One of the counts read: thus: “that you, Ubenyi Kingsley being the managing director of Ksley Mega Vision Limited and Juliana Ubenyi (now at large) on 16th May, 2016 at Enugu within the jurisdiction of the federal high court of Nigeria with intent to defraud obtained the sum of N15,000.000.00 (Fifteen Million Naira) from one Ugwu Uchenna John under false pretence that you were going to invest it for him in the said company and to pay him a 10% monthly interest of the principal amount which you knew is false.

“You thereby committed an offence contrary to section 1(1)(a) of the advance Fee Fraud and other Fraud Related Offences act, 2006 and Punishable under section 1(3) of the same Act. Ubenyi was thereafter remanded in prison custody.

 

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