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How A Nigerian Pastor ‘Stole’ N4.3m From A Firm And Then Misplaced The Cash To MMM

How A Nigerian Pastor 'Stole' N4.3m From A Firm And Then Misplaced The Cash To MMM 1

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A 35-year-old selfacclaimed pastor, Samuel Stephen Chukwuka, was yesterday sentenced to at least one 12 months in jail for defrauding an organization, De-Skye Mercantile Providers Restricted within the sum of N4.5 million, NAN experiences.

Chukwuka was convicted by Justice Mojisola Dada of an Ikeja Particular Offenced Court docket, Lagos on a two-count cost of stealing opposite to Part 285(5) of the Legal Legal guidelines of Lagos State, 2011.

Dada jailed Chukwuka after he pleaded responsible and confessed investing the mentioned cash in a Ponzi scheme popularly generally known as MMM.

The convict, the Financial and Monetary Crimes Fee (EFCC) mentioned, dedicated the offence on October 31, 2016, by dishonestly changing N3 million, property of De-Skye Mercantile S e r v i c e s Restricted, to his private use.

The antigraft company mentioned that Chukwuka additionally transformed N1.Three million property of the identical firm to his private use.T he complainant and CEO of De-Skye Mercantile, Egwabor Evans, had testified that the pastor (within the disguise of Multitech Enterprise Ventures) had approached him by way of Mr. Shola Oyedele to finance an LPO (native buy order).

In line with the proof earlier than the courtroom, Evans petitioned the EFCC in a letter dated August 8, 2017, alleging that Chukwuka claimed that he was provided an LPO to provide 3,000 litres of Automotive Fuel Oil (AGO) in any other case referred to as diesel to UAC Lagos price N3 million. Evans mentioned {that a} fee was made on October 31, 2016 through interbank switch from Constancy Financial institution to his Zenith Checking account to be paid again after three to 6 weeks.

“4 weeks later, on November 29, 2016, Chukwuka got here again once more that there’s one other LPO of 6,000 litres price N1.Three million within the whole sum of two LPOs price N4.Three million.

“After the second switch was made, he stopped selecting my calls. All efforts to get better the cash from him yielded no consequence,” Evans mentioned.

In the meantime, Chukwuka, in his defence earlier than the courtroom, admitted that he collected the cash from the complainant however invested it in a Ponzi scheme popularly generally known as MMM.

Chukwuka mentioned that he collected the cash with the intention of investing it into MMM to make some income however the scheme crashed on December 14, 2016. Justice Dada thereafter sentenced him to at least one 12 months in jail following his written settlement with the EFCC the place he promised to pay a stability of the N800,000, as he had paid a part of the cash.

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