NewsExpress banner Firstbank Verve banner Fidelity bank card banner Umm Sulaim's Thoughts Camano banner

EFCC arraigns wonder investment scheme promoter for N29.8m fraud

By News Express on 08/11/2019

Gmail icon

Views: 274

•The suspect Hamzat Muhammad Bashar
•The suspect Hamzat Muhammad Bashar

The Economic and Financial Crimes Commission (EFCC) Sokoto Zonal Office Thursday, November 7, 2019, arraigned certain Hamzat Muhammad Bashar, Chief Executive Officer of Hamga Investment Resources Limited, and his company before Justice Bello Duwale of the Sokoto State High Court.

They were arraigned on a 12-count amended charge bordering on conspiracy and obtaining money by false pretence to the tune of N29,865,000.

Hamzat’s trouble started when the Commission received a petition against him by one Imran Ahmed and several other victims, alleging he had defrauded them to the tune of N29,865,000 in a phony investment scheme in which they were promised 20 percent returns on investment every month and  dividend at the end of the year.

But after investing various sums of money, they neither received the 20% percent returns nor got any dividends. And, all efforts to recover their principal also failed.

Count one of the charge reads: “That you Hamzat Bashar Muhammad, Hindatu Bashar (Now at Large) and Hamga Investment Resources Limited sometimes within the months of June to December 2018 at Sokoto within the Jurisdiction of this Honourable Court, wit intent to defraud, did obtain the total sum of N23,760,000 (Twenty Three Million Seven Hundred and Sixty Naira) from Hadiza Aliyu (for herself and other victims) when you falsely represented yourselves to her, to be running a genuine business investment of Gold and Herbs, a pretence you knew to be false and thereby committed an offence contrary to Section 1(1)(a) of the Advance Fee Fraud and Other Fraud Related Offences Act of 2006 and punishable under Section 1(3) of the same Act.”

The defendant pleaded not guilty to the charge when it was read to him.

In view of his plea, the prosecution counsel Muhammad Gambo asked for a date for trial to commence. Responding, the defense counsel, M I. Dole informed the court that he had filed a bail application and served same on the prosecution.

Justice Duwale adjourned the matter to 21 November, 2019 for consideration of bail application and trial.

 The defendant was remanded in the custody of the EFCC.


Source News Express

Posted 08/11/2019 05:14:28 AM





You may also like...
Outcasts in Imo now free

FRSC strengthens partnership with NCC for efficient emergency...

Abe rejects APC NWC’s endorsement of Cole as...

Ekwueme explodes: Why Jonathan won’t get South-East block...

Customs arrests notorious job scammer

Airtel, Huawei, Microsoft partner for Windows Smart Phone...

Groups condemn protests, blackmail against Buhari, CBN Governor...

Bayelsa denies neglecting foreign scholarship students; expresses shock,...

Boko Haram: Army colonel convicted for mutiny •Court...

Abia Warriors fire MFM FC 2-0 in their...

2015 Governorship: Ogonis have adopted Dakuku Peterside —Rivers...

Self-censorship and security reports, By Yushau A. Shuaib...


Latest News Four pastors jailed in Enugu 77,000 teachers to lose jobs this month — NUT President How we chased marauding herdsmen out of South West — Agbekoya President 16-year old boy arrested for internet fraud in Imo 2023 Presidency divides Northern leaders Security officials move to forestall herdsmen, community clash in Anambra Dokubo-Asari, Kalabari prince tackle Wike over threat to dethrone monarch Pregnant woman, two minors abducted in Kaduna Battle for Ohanaeze leadership hots up as Nwodo’s tenure winds up Open closed borders, Nigerians are starving, Cleric charges FG Kano Govt builds biggest cancer treatment centre in Nigeria Enugu, Port Harcourt DisCos fail NERC’s review, may lose Licences


Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (572,452 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (456,874 views) Shameless Genevieve Nnaji exposes breasts in public (406,868 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (341,696 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (308,091 views) 10 cars more expensive than Jets (292,591 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (261,467 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (260,681 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (242,089 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (228,565 views) Lagos plane crash: Journalist releases victims’ names (204,223 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (200,517 views)


CBN milk production

CBN banner advert

UBA Wise Savers Promo


Categories Advertorials (3) African Press Organisation (81) Art & Literature (112) Business & Economy (4,623) Business Verdict (89) Columnists (1,158) Complaints & Requests (98) Enterprise & Opportunities (221) Entertainment (718) Features (855) Global Business Monitor (499) ICT Monitor (73) International (4,325) Interview (220) Live Commentary (30) Love Matters (178) Maggie's Blog (520) News (55,247) Opinion (1,440) Pidgin (18) Politics (11,889) Religion (1,133) Sports (2,255) Stock Watch (41) AMA & Al Jazeera Global Update







APO Group Partner




GOCOP Accredited Member

GOCOP Accredited member



Africa Media Agency and Al Jazeera