The Federal High Court sitting in Makurdi, Benue State, has sentenced the Managing Director of Builderstech Solution Ltd, Agene Johnson Godwin, to 48 years’ imprisonment for his involvement in a large-scale investment scam totaling over ₦500 million.
Justice M.S. Abubakar handed down the sentence after finding Godwin guilty on eight amended counts filed by the Economic and Financial Crimes Commission (EFCC).
The charges bordered on obtaining money by false pretence and operating fraudulent investment schemes.
During the trial, the court heard that Godwin deceived more than 5,000 investors by promising unusually high and unrealistic returns through schemes operated under Builderstech Solution Ltd.
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Victims were induced to part with their funds, which were later found to have been fraudulently obtained.
In his judgment, Justice Abubakar described the offences as serious and damaging, stressing that the scale of the fraud justified the stiff sentence.
The court ordered that the jail term be served without the option of a fine.
The EFCC welcomed the judgment, reiterating its resolve to protect Nigerians from financial crimes.
The agency also cautioned members of the public to be wary of investment offers that guarantee excessive profits, noting that such schemes are often fraudulent.