Fraud: Money Doubler Gets One Year Jail Term

A self-acclaimed money doubler, Joshua Omobasemota has been slammed a one year jail term following his conviction by the Economic and Financial Crimes Commission, EFCC on a 28-count charge bordering on obtaining money by false pretence.



He was found guilty of the charges after Justice A.A.Okeke of a Federal High Court sitting in Uyo, Akwa Ibom State held that a prima facie case was established against him by the EFCC.

In a post on its Facebook page dated 29 March 29, 2019, the EFCC said Omobasemota, who was first arraigned on March 21, 2018, had pleaded “not guilty”, but one year into his trial, he decided to change his plea to “guilty”.

The trial judge subsequently sentenced him to one year in prison, on each of the count, without an option of fine, to run concurrently from the date of his arrest.

Joshua’s journey to prison began when his victims, numbering 50 petitioned the EFCC and explained how Omobasemota defrauded them to the tune of over N800, 000 (Eight Hundred Thousand Naira).

According to the petitioners, the convicted fraudster approached them to invest in a money doubling scheme, under the guise that he was a representative of Dangote company in the South-South, in charge of a social responsibility scheme that creates wealth and doubles savings using Global Divine Rich Resources Nigeria.

But that was not to be, as the convict immediately disappeared into thin air after collecting so much money from his unsuspecting victims. He was later apprehended by the EFCC.

However, the prayer of the prosecuting counsel, Kanu Ukoha, asking the court to make the convict restitute the nominal complainants who suffered financial losses, was not granted by the court.


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