A 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 investors U.S. Green Cards through the EB-5 immigrant investor program, was convicted on multiple fraud charges.
Presiding over the case, Justice Mojisola Dada found Ramirez guilty of two consolidated charges brought by the Economic and Financial Crimes Commission (EFCC). He faced several counts of fraud, including obtaining money under false pretenses and theft. The court sentenced Ramirez to eight years each for counts one to six and ten years each for counts seven and eight. Additionally, he received ten years per count for counts one to 12 and 13 to 16, amounting to a total of 74 years in prison.
Justice Dada noted that Ramirez had dishonestly converted investment funds for personal use, and the prosecution successfully demonstrated the fraudulent nature of his promises to the victims.
Ramirez’s scheme involved using his companies—USA Now LLC, Eagle Ford Instalodge Group LP, and USA Now Energy Capital Group LP—to solicit funds from investors with the false assurance of permanent U.S. residency. One of his victims, Godson Echegile, lost $545,000, which was purportedly a processing fee for the investment program. The EFCC provided evidence that Ramirez misappropriated the funds.
In addition to the $1.2 million scam, Ramirez was also convicted on separate charges, including $368,698.24 in fraud and another case where he defrauded Gabriel Ogie Edeoghon of $250,000 in July 2013.
This ruling represents a significant victory for the EFCC in their ongoing fight against international fraud within Nigeria.