The Convicts were arraigned by the EFCC on Thursday 8th December, 2016 before Gombe State High Court no. 2. Upon their arraignment, the convict pleaded guilty to the two count charge against them.
In view of the plea of guilty entered by the 2nd, and 4th accused persons, the prosecution counsel A.M Labaran urge the court to convict them' based on their plea as there is no better evidence than the confession of an accused person and also cited Section 28 of the Evidence Act, 2011 as Amended.
The complainant alleged that the convicts were using the Company Graceland Real Option Ltd. to lure their victims in Gombe State through a promise of soft loan of 12% interest rate without collateral. The convicts fixed the repayment period of the said loan to 35 weeks with option of weekly or monthly repayment.
The victims were lured to purchase the loan form at the cost of N2,000 (Two Thousand Naira Only) before they can be granted the loan, which very large number of persons key into. It was at the point of purchasing the loan form that some of the victims suspected fraud and alerted the EFCC which swung into investigation that led to the arrest of the convicts.
The presiding Judge Justice Mohammed after hearing submissions from the prosecution and the defense counsel agreed with the submission of the prosecution counsel to convict the 2nd, 3rd and 4th accused persons. However, the court convicted and sentenced them to two (2) months imprisonment with an option of N20,000 fine on count 1 and six (6) months imprisonment with an option of N40, 000 fine on count 2. Read more LIB
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