The Lagos State Special Offences Court has sentenced American businessman Marco Antonio Ramirez to 74 years in prison for defrauding victims of $1.2 million in a fraudulent EB-5 visa scheme.
Ramirez, who falsely promised U.S. visas through investments, was convicted on multiple counts of fraud by Justice Mojisola Dada.
His companies, USA Now LLC, Eagle Ford Instalodge Group LP, and USA Now Energy Capital Group LP, were used to deceive investors.
The Economic and Financial Crimes Commission successfully prosecuted the case. Ramirez’s sentence covers various counts of fraud, including obtaining money under false pretenses.
The judge sentenced Ramirez to eight years for counts one to six, and ten years each for counts seven and eight.
Additionally, counts 12 to 16 resulted in ten years per count, culminating in a total of 74 years. The EFCC provided substantial evidence proving that Ramirez misappropriated funds meant for the visa program, using them for personal gain.
One of the key victims, Godson Echegile, lost $545,000 as part of a processing fee for the fraudulent scheme.
This conviction is seen as a major win for the EFCC, which continues to tackle international fraud.
