High Court sitting in Lagos State, Nigeria has sentenced an American citizen, Marco Ramirez to 68 years imprisonment for defrauding unsuspecting Nigerians  the sum of $1.6 million deceiving them with fake visa application.

According to EFCC, the convicted American Citizen carried out the fraudulent acts in 2013 using a company name.

Details of the report and other news item as presented by the Press Unit of EFCC reads below thus:

“Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, on Tuesday, September 10, 2024, convicted an American businessman, Marco Antonio Ramirez, for $1.2 million EB-5 visa scam .

The Judge also convicted him for a separate $368,698.24 fraud.

The Economic and Financial Crimes Commission, EFCC, prosecuted Ramirez alongside his companies, USA NOW LLC, Eagle Ford Instalodge Group LP and USA Now Energy Capital Group LP, for an alleged $1,235,000 EB-5 visa scam.

The defendant allegedly obtained the money from his victims as processing fees for their investments in his company, USA Now Energy Capital Group LP, in the Employment-Based Fifth Preference (EB-5) United States of America Investor Programme, which would qualify them to be eligible for the issuance of USA Green Card.

The defendant, however, allegedly reneged on his promise.

He was initially arraigned on a 12-count charge, to which he pleaded “not guilty”.

He was also re-arraigned by the EFCC on June 24, 2022 on an amended 16-count charge.

Count 13 of the amended charge reads: “Marco Antonio Ramirez, USA NOWLLC, Eagle Ford Instalodge Group LP, and USA Now Energy Capital Group LP, between 5th February 2013 and 18th April 2013 at Lagos, within the jurisdiction of this Honourable Court, dishonourably converted to your personal use the aggregate sum of $545,000 property of Godson Onyemaechi Echegile.”

Count 14 reads: “Marco Antonio Ramirez, USA NOW LLC, and USA Now Energy Capital Group LP, between 12th July 2012 and 7th November 2012 at Lagos, within the jurisdiction of this Honourable Court , dishonourably converted to your personal use the aggregate sum of $314,800 property of Abubakar Umar Sadiq.”

Count 15 reads: “Marco Antonio Ramirez, USA NOW LLC, and USA Now Energy Capital Group LP, between 19th February 2013 and 18th April 2013 at Lagos, within the jurisdiction of this Honourable Court, dishonourably converted to your personal use the aggregate sum of $230,000 property of Abubakar Umar Sadiq.”

The prosecuting counsel, M.S. Owede, tendered several documentary evidence and called witnesses to substantiate the allegations against him.

Ramirez had also been taken to the dock to defend himself of the alleged fraud.

In the course of the trial, he secured the services of Lawal Pedro, SAN.

The matter, however, suffered several adjournments at the stage of adoption of final written addresses.

The adoption finally took place on May 8, 2024.

Subsequently, Justice Dada adjourned till today, September 10, 2024 for judgment.

At the resumed on Tuesday, Justice Dada held that the prosecution proved its case against Ramirez beyond reasonable doubts.

He was, thereafter, found guilty as charged and sentenced to 10 years each on counts one to 12 bordering on obtaining by false pretence, and 10 years each on counts 13 to 16 bordering on stealing.

Also, on Tuesday, September 10, 2024 Justice Dada found Ramirez guilty on separate amended nine-count charge bordering on an alleged $368,698.24 fraud filed against him by the EFCC.

One of the counts reads: “Marco Antonio Ramirez, USA NOW LLC, and USA Now Energy Capital Group LP, on or about the 26th day of July, 2013 at Lagos, within the jurisdiction of this Honourable Court, with intent to defraud, obtained the sum of $250,000 from Gabriel Ogie Edeoghon under the false representation that the sum was his investment in your company: USA NOW Energy Capital Group LP in the Employment-Based Fifth Preference (EB-5) United States of America Investor Programme, which investment would qualify him to be eligible to a USA Green Card, and which representation you knew to be false.”

Another count reads: “Marco Antonio Ramirez, on or about the 5th day of March, 2014 at Lagos, within the Jurisdiction of this Honourable Court, with intent to defraud, obtained the sum of $50,281.33 from Oludare Talabi, under the false representation that the said sum is to procure United States of America L1 VISA programme for him, which representation you knew to be false.”

He also pleaded “not guilty” to the charges when they were read to him.

The prosecuting counsel, S O Daji, also tendered several documentary evidence against him and called witnesses to testify against him.

The proceedings had also suffered several adjournments occasioned by the absence of the defence counsel, Lawal Pedro, SAN, and the inability of the defence to file its own final written addresses in good time, even after the prosecution counsel, M S Owede and S O Daji, had filed theirs for the separate charges, respectively.

After the adoption on May 8, 2024, Justice Dada also adjourned till Tuesday for judgment.

Delivering judgment, Justice Dada held that the prosecution proved its case against Ramirez beyond reasonable doubts.

Consequently, Justice Dada sentenced him to eight years each on counts one to six and 10 years each on counts seven to eight.

Olukoyede Vows to Sanitise the Banking Sector

The Executive Chairman of the Economic and Financial crimes Commission, EFCC, Ola Olukoyede has declared the resolve of the Commission to deploy a robust enforcement of the country’s financial laws and regulations towards sanitizing the banking sector and insulate it from rogue activities.

He made the declaration on Tuesday, September 10, 2024 at the Chartered Institute of Bankers of Nigeria,
CIBN’s 17th Annual Banking and Finance Conference, with the theme: “Accelerated Economic Growth and Development: The State of Play and the Way Forward,” held at the Congress Hall, Transcorp Hilton Hotel Abuja.

“I make bold to tell you with every sense of humility that we are no longer folding our arms. As a matter of fact some of the mind-boggling, major financial fraud and onslaught that have been carried out against the economy ran through the banking industry. We are committed to working with the institute in sanitizing the financial services sector through robust enforcement of our financial laws and insulating it from impact from criminals both from within and from without,” he said.

Speaking further, he reiterated that enforcement of extant laws and penal sanctions would be decisively applied in the cleansing endeavour adding that no one would be spared, including
erring top officials of the banking and financial sector.

“In as much as we are ready to work with you to sanitize the system, we must also note that it is extremely important to state that when there are criminal infractions, penal sanctions will follow. We have compiled our documents; we have made the necessary investigations, we have concluded and very soon you will see some banks get prosecuted and top officials prosecuted. We need to just do something drastic to bring everybody in line. To do the right thing is extremely important. In a system where there are no penal sanctions for criminal infractions, that system will never survive.

“From our experience with the investigation of financial crimes involving members of the banking profession, there is gross contempt for regulations that bother on impunity. Operators secretly devise means to circumvent regulations and rules in a desperate bid for higher yields. Sharp practices such as forex round-tripping, defrauding of investors through phantom charges and complicity in money laundering and illicit financial flow involving politically-exposed persons continue to undermine the integrity of the sector and by extension the nation’s economy.

“Look at yourselves in the mirror and leave this place with renewed commitment to professionalism and determination to provide services that will assist the growth and development of the Nigerian economy,” he said.

Speaking on the challenges facing the country, Vice President Kashim Shatima who represented President Bola Ahmed Tinubu stated that the country faced a host of interconnected challenges that affect all aspects of the national economy “ranging from high inflation, rising cost of living and infrastructural deficits and the ongoing effects of global economic shifts.” He, however, notes that the challenges “also present opportunities of growth and development.”
According to the President, the theme of the event will enable the government “to evaluate where we stand as a nation; understand the root causes of our economic challenges and explore actionable strategies to accelerate growth and development, sustainably and inclusively.”

The way forward, he said, required collaboration across all sectors, government, private industries and the civil society, adding that “To achieve sustained economic growth, we must intentionally align our policies and actions with the changing global landscape. The government is committed to implementing reforms to enhance macro-economic stability, reduce inflation and support infrastructure development.”

The President tasked the private sector on innovativeness and strategic investment in key growth areas of the economy as the government accelerates capacity building.

“We must also focus on capacity building, talent development and youth empowerment. The future of the Nigerian economy lies in the hands of our youths and we must equip them with the skills, knowledge and opportunities needed to drive our nation forward. The journey ahead will require determination, resilience and collective action. I am confident that with the continued support from the leadership of the Nigerian banking and financial sector, we will accelerate our economic growth and development. We will chart a path that ensures prosperity for all Nigerians and position our nation as a beacon of stability and opportunity in the African continent,” he said.

In his opening remarks, President of CIBN, Professor Pius Olanrewaju, pointed to the Institute’s increasing global influence, with the participation of several African countries in its yearly conference geared towards the evolution of actionable outcomes.

In his keynote address, Tony Elumelu, Chairman of Heirs Holdings, acknowledged that 2024 has been a tough year for the country, marked by inflation and a trade imbalance and called for long term solutions rather than quick fixes.