A Federal High Court sitting in Kano has convicted one Maryam Abu Shinga for retaining proceeds of crime.
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A statement by the Head, Media & Publicity, Economic and Financial Crimes Commission (EFCC) Wilson Uwujaren on Wednesday stated that the judge, Lewis Allagoa, passed his judgment on the convict on Tuesday.
The statement said that the convict entered a plea bargain agreement with the prosecution that saw the judge sentence her to pay N110, 000,000 in restitution to victims.
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According to the statement, there is no jail term placed on the Ponzi scammer.
“The convict lured her victims into a phony gold mining investment that she promised would yield 300 per cent profit for investors.
“She claimed that an investor who put in N500,000 could earn N1.5 million as returns on investment within four weeks.,” the statement revealed.
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Daily Telescope recalled that the anti-graft agency has launched a big manhunt for operators of Ponzi scheme with a view to crippling their activities in the country.
