American businessman convicted in $1.2 million EB-5 visa scam in Lagos
American businessman Marco Antonio Ramirez has been convicted by Justice Mojisola Dada of the Special Offences Court in Ikeja on Tuesday, September 10, 2024, for his involvement in a $1.2 million EB-5 visa fraud scheme. In addition to this conviction, Ramirez was also found guilty of a separate fraud amounting to $368,698.24.
The Economic and Financial Crimes Commission (EFCC) prosecuted Ramirez and his companies, including USA NOW LLC, Eagle Ford Instalodge Group LP, and USA Now Energy Capital Group LP, for allegedly deceiving victims into paying processing fees for investments in the Employment-Based Fifth Preference (EB-5) U.S. Investor Program. These investments were promised to lead to eligibility for U.S. Green Cards, but Ramirez failed to fulfill his commitments.
Initially charged with 12 counts, Ramirez pleaded “not guilty.” He was later re-arraigned on an amended 16-count charge on June 24, 2022. Key allegations included the improper conversion of funds belonging to various individuals, including $545,000 from Godson Onyemaechi Echegile and $314,800 from Abubakar Umar Sadiq.
During the trial, the prosecution presented extensive documentary evidence and witness testimonies to support their case. Despite securing legal representation from Lawal Pedro, SAN, the proceedings faced multiple delays, particularly regarding the adoption of final written addresses, which finally took place on May 8, 2024.
On Tuesday, Justice Dada ruled that the prosecution had established its case beyond a reasonable doubt. Ramirez was sentenced to 10 years for counts one to 12 related to obtaining funds under false pretenses and 10 years for counts 13 to 16 regarding theft.
Furthermore, on the same day, Justice Dada found Ramirez guilty of an amended nine-count charge involving an additional fraud of $368,698.24. One notable count accused him of fraudulently obtaining $250,000 from Gabriel Ogie Edeoghon, falsely claiming it was an investment in the EB-5 program.
In total, Ramirez received sentences of eight years for counts one to six and 10 years for counts seven and eight, marking a significant conviction in the fight against financial crimes in Nigeria.
