Notorious Ponzi scheme scammer Umanah Umanah jailed 10 years

The notorious Ponzi scheme scammer, Umanah Umanah, who defrauded many undiscerning Nigerians of their hard-earned monies, in the late eighties, has been jailed for 10 years, thanks to the Economic and Financial Crime Commission (EFCC).

Umanah was sentenced on Thursday, March 8, 2022, by Justice Agatha Okeke of the Federal High Court sitting in Uyo, Akwa Ibom State.

He was convicted on a two-count charge, bordering on forgery and issuing of dud cheque and consequently jailed 10 years on each count. The sentence will, however, run concurrently, according to the judge.

Umana’s nightmare, according to a statement by the EFCC, started in 2020 when he was arrested by operatives of the commission, following a petition by one of his victims, who had alleged that Umanah swindled him of over N2.9 million and subsequently issued him a N500,000 cheque. The cheque was eventually dishonoured by the bank because the account was not funded.

“During investigation, the Commission discovered that the defendant lured his victims through bogus promises of return on investment of up to 50% in seven days through his company, No Burn Global Limited, with a network in several states of the federation.

“He was subsequently arraigned on Friday, October 16, 2020, on a two-count charge bordering on issuance of dud cheque, forgery and uttering; offences which contravened the provisions of Section 1 (2) (C) of the Miscellaneous Offences Act Cap M17 of the Revised Edition (Laws of the Federation of Nigeria) 2007 and punishable under Section 1 (2) of the same Act. He pleaded “not guilty” upon arraignment, setting the stage for his full trial,” the EFCC recounted.

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During the trial, the prosecution, through its counsel, Adebayo Soares presented three witnesses and tendered several documents which were admitted in evidence.

The court, while delivering judgment, said the prosecution had proven its case beyond reasonable doubt and convicted Umanah on both counts.

Justice Okeke sentenced Umanah to 10 years imprisonment on each count, to run concurrently, starting from the date of his arrest.

One of the counts on which he was convicted read: “That you, Umanah Ekaette Umanah on or about the 31st day of July, 2017 at Uyo within the jurisdiction of this Honourable Court did make a forged document to wit: United Bank of Africa (UBA) cheque with cheque number: 73131308 of NO BURN GLOBAL STAKEHOLDERS MULTIPURPOSE by appending your signature on the said cheque leaflet when not being a signatory to the account of NO BURN GLOBAL STAKEHOLDERS MULTIPURPOSE domiciled with UBA, knowing same to be false and with the intent that it may be acted upon as genuine and thereby committed an offence contrary to Section 1 (2) (C) of the Miscellaneous Offences Act Cap M17 of the Revised Edition (Laws of the Federation of Nigeria) 2007 and punishable under Section 1 (2) of the same Act.”

Umana met his waterloo when he was arrested by operatives of the Uyo Zonal Command of the EFCC on Wednesday, July 1, 2020 in Osongoma area of Uyo, Akwa Ibom State. The EFCC said before his arrest, the convict had defrauded scores of victims, both within and outside the country.