September 11, 2024
By Okafor Joseph

An American businessman, Marco Antonio Ramirez, has been sentenced to 74 years in prison by the Lagos State Special Offences Court in Ikeja for defrauding victims of $1.2 million in an elaborate EB-5 visa scam.

Ramirez, who had promised investors U.S. visas through the EB-5 immigrant investor program, was convicted on multiple counts of fraud. Justice Mojisola Dada presided over the case and found Ramirez guilty of two separate consolidated charges brought against him by the Economic and Financial Crimes Commission (EFCC).

The court ruled that the prosecution had successfully proven its case beyond a reasonable doubt. Ramirez was convicted of obtaining money under false pretenses and stealing from multiple victims who had trusted him with their investments.

For the first charge, Ramirez was sentenced to eight years each on counts one to six, and 10 years each on counts seven and eight. On the second charge, he received 10 years each on counts one to 12, and 10 years each on counts 13 to 16, all related to fraud. In total, Ramirez will serve 74 years for his role in the scheme, which also involved an additional fraud amount of $368,698.24.

The EFCC revealed that Ramirez, along with his companies—USA Now LLC, Eagle Ford Instalodge Group LP, and USA Now Energy Capital Group LP—had fraudulently obtained funds from victims under the false pretense of helping them secure a Green Card and permanent residency through the U.S. Employment-Based Fifth Preference (EB-5) Investor Programme. Instead, he misappropriated the funds for personal use.

In her ruling, Justice Dada stated, “The convict dishonestly converted the investment funds for personal use. The prosecution has successfully proven that the promises made to the victims were false, and the funds were obtained under fraudulent pretenses.”

The EFCC disclosed that Ramirez’s fraudulent activities dated back to 2013, with one victim, Godson Echegile, losing $545,000 to Ramirez under the guise of a processing fee for an investment that would supposedly grant him a Green Card. Ramirez was initially arraigned on 12 counts of fraud but later faced 16 counts after the charges were amended on June 24, 2022. The offences occurred on February 5 and April 18, 2013, in Lagos.

During the trial, the prosecution, led by counsel M.S. Owede and Samuel Daji, presented documentary evidence and witness testimonies, while the defence, represented by Lawal Pedro (SAN), cross-examined them. Despite delays, both parties presented their final addresses on May 8, 2024, before the court adjourned for judgment.

In addition to the main charges, Ramirez was convicted on a separate nine-count charge involving $368,698.24. He was also found guilty of defrauding Gabriel Ogie Edeoghon of $250,000 on July 26, 2013, under the false pretense of investing in USA Now Energy Capital Group LP for an EB-5 visa.

Justice Dada imposed further sentences of eight years each on counts one to six and 10 years each on counts seven and eight for this related scam.