An American businessman, Marco Ramirez, has been sentenced to 74 years in prison by the Lagos State Special Offences Court for a $1.6 million fraud. The Economic and Financial Crimes Commission (EFCC) had charged Ramirez with a 16-count charge, including obtaining money from victims as processing fees for investments in his company, which would qualify them for a US green card.
Ramirez was prosecuted alongside his companies, Eagle Ford Instalodge Group LP, USA Now Energy Capital Group LP, and USA NOW LLC, over a $1,235,000 EB-5 visa scam. He was also arraigned on another nine-count charge of $368,698.24 fraud.
Justice Mojisola Dada delivered the judgment, sentencing Ramirez to various terms of imprisonment on the different charges. The prosecution was able to prove its case beyond a reasonable doubt, leading to the conviction.
Ramirez’s sentence serves as a warning to individuals and companies engaging in fraudulent activities, particularly those targeting vulnerable individuals seeking investment opportunities. The EFCC’s efforts in prosecuting such cases demonstrate a commitment to combating financial crimes and protecting victims.
The case highlights the importance of thorough research and due diligence before investing in any opportunity, especially those promising unusually high returns or guaranteed green card eligibility. Victims of fraud should report such incidents to the relevant authorities to ensure justice is served.
