Justice Ambrose Lewis Allagoa of the Federal High Court, Court 3, Ikoyi Lagos, has fixed 21st July this year for the commencement of trial of Mr. Michael Ukiye Diongoli, and his two companies, UK Dion Group and UK Dion Investment Limited on a 61 count charge of defrauding unsuspecting investors to the tune of over N3.7 billion.
Diongoli and his companies were alleged to have between 2021 and 2022 with intent to defraud, conspired among themselves to obtain money from several individuals and organisations, including Dr. Basil Onugu, Prof. Oyekachi Green Nwankwo, FSL Securities Ltd, Catholic Charismatic Renewal, MTN Employer Cooperative, Col Chukwu Tengu (rtd.) and Nigerian Army Welfare Insurance Scheme, among others.
The defendants were accused of pretending to be registered financial institution into wealth management, invited customers to pay money into their accounts and fix it for a period ranging from 6 months to one year with interest, a statement the defendant knew to be false and committed an offence contrary to Section 1(1) of the Advanced Fee Fraud and other Fraud Related to Offenses Act, 2006 and punishable under Section 1(3) of the same Act.
The Charge sheet partly reads: “That you Micheal Ukiye Diongoli, Dion Investment Limited and others at large between MRCH 2021 and May 2022 in Lagos Nigeria, within the jurisdiction of the Federal High Court of Nigeria with intent to defraud fraudulently obtained several sums of money to UK Dion under the pretence that you are a registered financial institution, and you are into wealth Management wherein customers were invited to pay money into your account, fix it for a period ranging from 6 months to one year and the customer will get the money invested with interest, a statement the victims believed, which you knew to be false and you thereby committed an offence contrary to Section 1(1) of the Advanced Fee Fraud and other Fraud Related to Offenses Act, 2006 and punishable under Section 1(3) of the same Act”.
When the charges were read to the defendant, Micheal Ukiye Diongoli pleaded not guilty to all 61 counts, Justice Allagoa thereafter set July 21, 2023as the date for the commencement of the trial.
Diongoli, and his two companies, UK Dion Group and UK Dion Investment Limited are also facing a criminal summons by Justice Zainab Abubakar of the Federal High Court in Abuja on charges of operating without the Liscence of the Securities and Exchange Commission.
In the two count charge brought against Michael Ukiye Diongoli, UK Dion Group And UK –Dion Investment Limited all of No. 21 Buhari Street, Peace Court Estate, Lokogoma, Abuja, they are alleged to have on or between the year 2021 and 2022 within the jurisdiction of the honourable court did commit a felony to wit: conspired among themselves together with their staff to do an illegal act – diversion of investment funds to the tune of over N3.6billion belonging to the investing public which includes Basil Onugu, Elizabeth Umenwa Nwankwo, Adetoun Sokoni, Ezeogu Victoria Ndozi and others you thereby committed an offence contrary to and punishable under Section 516 of Criminal Code Act, laws of the Federation, 2004.
The Charge sheet also partly stated: “That you Michael Ukiye Diongoli, UK Dion Group And UK –Dion Investment Limited all of No. 21 Buhari Street Peace Court Estate, Lokogoma, Abuja, they are alleged to have on or between the year 2021 and 2022 within the jurisdiction of the Federal High and together with your other staff, did commit a felony to wit: diverted investment funds to the tune of over N3.6billion belonging to the investing public which includes Basil Onugu, Elizabeth Umenwa Nwankwo, Adetoun Sokoni, Ezeogu Victoria Ndozi and others you thereby committed an offence contrary to Section 383(2) F of Criminal Code Act, Laws of the Federation of Nigeria, 2004 and punishable under Section 390(7) of the same Act”.
