The Force Criminal Investigation Department, Alagbon-Ikoyi division in Lagos State, has arraigned a ponzi scheme operator, Michael Ukiye Diongoli, before the Federal High Court in Lagos, for allegedly defrauding a retired Army Colonel, two professors, and MTN Staff Co-operative Society of the sum of N1.286, 580, 656 billion.
Diongoli was arraigned on Monday before Justice Ambrose Lewis-Allagoa on an eight-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 are 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), among others.
The prosecutor, Mrs. Ezema Susan, a Chief Superintendent of Police (CSP), told the court that the defendant committed the offences between December 2021 and April 2022.
The prosecutor added 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.
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The defendant, however, denied the allegations and pleaded not guilty to the charges.
Following his not guilty plea, the defence counsel, Olalekan Ojo, SAN, informed the court that his client’s bail application has been filed, noting that it has been served on the prosecution.
In her response, the prosecutor told the court that although, the defendant’s lawyer informed her that the bail application has been served on the prosecution, she was yet to receive it.
She, however, pleaded for short adjournment, to respond to it.
Justice Lewis-Allagoa, therefore, ordered that the defendant be remanded in the Force CID’s custody and adjourned the matter till today (tomorrow) for hearing of the bail application.
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