The Benin Zonal Command of the Economic and Financial Crimes Commission (EFCC) on Tuesday, July 5, 2022, secured the conviction of David Wealth Ezuzu, an investment fraudster, before Justice Efe Ikponmwonba of the Edo State High Court, Benin City.
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| Economic and Financial Crimes Commission (EFCC) |
Ezuzu, a pastor and the chief executive of Arerben Ventures, an investment company, was arraigned on one count charge of obtaining by false pretence.
He was said to have fraudulently obtained over N5 billion from unsuspecting members of the public on the pretext of investment in forex trading.
The charge reads: that you, David Wealth Ezuzu ( trading under the name and style of Arerben ventures) sometimes between 11th January, 2020 and 1st day of March, 2021 in Edo State within the jurisdiction of this Honourable Court did transfer the aggregate sum of N15,2000,000 (Fifteen Million, Two Hundred Thousand Naira) out of the total sum of N5,458,171,996.95 (Five Billion, Four Hundred and Fifty-eight Million, One Hundred and Seventy One Thousand, Nine Hundred and Ninety-six Naira, Ninety-five Kobo) you received in your account from unsuspecting members of the public as investment into Forex trading to your Bank in the name of Ezuzu David knowing that same represent proceeds of Ezuzu David’s criminal conduct, to wit: obtaining money by false pretense and thereby committed an offence contrary to Section 17(a) of the Economic and Financial Crimes Commission ( Establishment ) Act, 2004 and punishable under section 17(b) of the same Act”.
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