DAVID EZUZU, A BOGUS FOREX TRADER, HAS BEEN IMPRISONED AND HAS LOST NINE ASSETS TO THE FG.

The Economic and Financial Crimes Commission [EFCC] Benin Zonal Command has achieved the conviction of David Wealth Ezuzu, an investment fraudster.

Ezuzu was found guilty of the N5 billion swindle by Justice Efe Ikponmwonba of the Edo State High Court in Benin City.

Ezuzu, the CEO of Arerben Ventures, an investment firm, was charged with one count of acquiring approximately N5 billion from the public under false pretenses with the intent of investing money in forex trading.

Some of the houses forfeited by Ezuzu

To the charge, the defendant entered a guilty plea. Francis A. Jirbo, the attorney for the prosecution, asked the court to find the defendant guilty and punish him in accordance with his plea. Because the victims of the crime would receive compensation, the defense attorney, A. Afamefena, asked the court to strike a balance between justice and mercy.

Justice Ikponmwonba found Ezuzu guilty and sentenced him to three years in prison with the potential of a two million naira fine. His company, D.W.Arerben Global Investment, was found responsible and fined N2 million.

The corporation must be shut down, and the remaining N1, 099,503.08 in its account must be forfeited to the federal government through the EFCC in order to compensate the crime's victims.

The defendant was additionally ordered to surrender the following properties to the Federal Government through the EFCC for the benefit of the crime's victims:

1. A five-bedroom duplex and security home located in Asaba, Oshimili South LGA, Delta State, on Plot 3 in Block Seven of the Kewkagbor Family Layout.

2. Landed property located in Asaba, Oshimili North LGA, Delta State, in Okotomi Layout, Obadogwugwu Quarters, and Okpanam Quarters.

3. Landed property in the Delta State communities of Anieluenonu New Layout, Obadogwugwu Quarters, Okpanam, and Asaba.

4. A five-bedroom duplex with a bungalow is located at 12 Okwunze Street, off Stadium Road, in the Delta State local government area of Oshimili South.

5. Two bungalows with three and two beds, respectively, on property owned by the Obiaje family in Oshimili South LGA, Delta State.

6. Landed property, Plot 27, located on Umayi Umuezeafadia Family land in Okosolo on the Asaba-Benin Road in the Delta State municipality of Oshimili South.

7. Bungalow located at Ogbeowelle Quarters, Okpanam, Oshimili North LGA, Delta State, along R.N. Okonkwo Street.

8. Land of 26 Hectares, situated in Ngbo Ofuke Village in Asaba, Delta State.

9. In Asaba, Delta State, on Obduogwu Family.land, across from the NNPC Filling Station, is a three-story structure with three rooms.

10. A plot of property in Elibujor Ogne-of Layout on the Benin-Asaba Expressway that is roughly 200 feet by 200 feet (1 acre) in size.

One Keystone Bank manager's cheque worth N400,000, thirteen Zenith Bank manager's cheques worth N115,000,000, ten Guaranty Trust Bank manager's cheques worth N61,700,000.00, thirty-eight First City Monument Bank manager's cheques worth N33,550,000, and two UBA manager's cheques worth N300,000.00 are also ordered forfeited.