Man Jailed 3 Years For N4.9m Investment Scam

A Lagos State High Court in Ikeja on Tuesday sentenced one Segun Bright, to three years imprisonment for defrauding over 40 persons of N4.9 million through an investment scam.

The trial judge, Justice Oluwatoyin Ipaye sentenced Bright after he pleaded guilty to the 21-count charge preferred against him by the Economic and Financial Crimes Commission (EFCC).

Ipaye sentenced Bright to three year imprisonment on each of the count, adding that, the sentences are to run concurrently beginning from 16 December 2014.

The EFCC counsel, Mr Emmanuel Jackson, told the court that Bright swindled more than 40 persons through a fraudulent investment scheme.

Jackson said the convict, through his company, Wexford Global Resources Ltd, had committed the offence between 2008 and 2010 in Lagos.

He said Bright collected various sums, ranging from N10, 000 to N615, 000 from different people with the promise to re-invest the funds for higher returns.

Jackson said following series of complaint sent to the EFCC, the convict was later arrested and charged to court.

According to him, Bright’s offence contravene Sections 383 (1) and (9) of the Criminal Code, Laws of Lagos State 2003.

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