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Man jailed 3 years for defrauding 40 persons of N4.9m

By Bartholomew Madukwe

A suspect, Segun Bright, convicted for defrauding over 40 persons of N4.9 million through an investment scam, has been sentenced to three years imprisonment by a Lagos State High Court in Ikeja.

Trial judge, Justice Oluwatoyin Ipaye, sentenced Bright after he pleaded guilty to a 21-count charge preferred against him by the Economic and Financial Crimes Commission, EFCC.

Bright was sentenced to three years imprisonment on each of the counts, and the sentences are to run concurrently beginning from December 16.

According to EFCC’s counsel, Mr. Emmanuel Jackson, the convict (Bright) swindled more than 40 persons through a fraudulent investment scheme.

Jackson informed the court that the convict, through his company, Wexford Global Resources Ltd, committed the offences between 2008 and 2010 in Lagos.

He said the convict collected various sums, ranging from N10,000 to N615,000 from different persons with the promise to re-invest the funds for high returns.

Jackson said the convict was arrested following series of complaint sent to the EFCC.


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