US businessman sentenced to 74 years in Lagos for $1.2m EB-5 visa scam
Marco Antonio Ramirez, an American businessman, has been sentenced to an astonishing 74 years in prison by a Lagos State Special Offences Court in Ikeja for orchestrating a fraudulent scheme that defrauded victims of $1.2 million through the EB-5 visa program.
Ramirez was convicted on multiple counts of fraud after promising investors U.S. visas via the EB-5 immigrant investor program.
Justice Mojisola Dada, who presided over the case, found him guilty of two consolidated charges brought forth by the Economic and Financial Crimes Commission (EFCC).
The court determined that the prosecution had proved the case beyond reasonable doubt, leading to Ramirez’s conviction for obtaining money under false pretenses and stealing.
The sentencing details were staggering: for the first charge, Ramirez received eight years each on counts one to six, and 10 years each on counts seven and eight. On the second charge, he was handed an additional 10 years each on counts one to 12, plus another 10 years each on counts 13 to 16, all related to his fraudulent activities. Altogether, these sentences culminated in a total of 74 years behind bars.
The EFCC disclosed that Ramirez, along with his companies—USA Now LLC, Eagle Ford Instalodge Group LP, and USA Now Energy Capital Group LP—fraudulently acquired funds from victims by falsely assuring them access to the U.S. Employment-Based Fifth Preference (EB-5) Investor Programme, which was supposed to qualify them for a U.S. Green Card and permanent residency. Instead, Ramirez misappropriated the funds for his personal gain.
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 also highlighted that Ramirez’s fraudulent activities date back to 2013. One notable victim, Godson Echegile, lost a staggering $545,000 to Ramirez, who falsely claimed that the amount was a processing fee for an investment that would qualify him for a Green Card through the EB-5 program.
Initially arraigned on 12 counts of fraud and pleading not guilty, Ramirez faced amended charges and was re-arraigned on 16 counts on June 24, 2022. The offences were committed on February 5 and April 18, 2013, in Lagos.
Throughout the trial, prosecution counsel M.S. Owede and Samuel Daji presented compelling documentary evidence and witness testimonies, while Ramirez’s defence team, led by Lawal Pedro (SAN), conducted cross-examinations. Despite facing several delays, final addresses were presented on May 8, 2024, prior to the judge’s decision.
In addition to the primary charges, Justice Dada also found Ramirez guilty of a separate nine-count charge involving an additional $368,698.24 in fraud. Furthermore, he was convicted of defrauding Gabriel Ogie Edeoghon of $250,000 on July 26, 2013, under the pretense of investing in USA Now Energy Capital Group LP to secure a Green Card via the EB-5 visa programme. For this particular fraud, he received further sentences of eight years each on counts one to six and 10 years each on counts seven and eight.
With this ruling, the court has sent a clear message that fraudulent schemes will not be tolerated, ensuring that justice is served for the victims of such deceitful practices.
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