A Lagos State Special Offences Court in Ikeja has sentenced American businessman Marco Antonio Ramirez to 74 years in prison for defrauding victims of $1.2 million through an EB-5 visa scam, along with an additional $368,698.24 in fraudulent activities.
Justice Mojisola Dada delivered the sentence on Tuesday, finding Ramirez guilty of two separate consolidated charges brought by the Economic and Financial Crimes Commission (EFCC). The court determined that the prosecution had proven its case beyond a reasonable doubt.
On the first charge, Ramirez was sentenced to eight years each on counts one to six, and 10 years each on counts seven and eight. For the second charge, he received 10 years each on counts one to 12 for obtaining money under false pretenses, and 10 years each on counts 13 to 16 for stealing.
The EFCC revealed that Ramirez, through his companies USA Now LLC, Eagle Ford Instalodge Group LP, and USA Now Energy Capital Group LP, deceived victims by promising access to the U.S. Employment-Based Fifth Preference Investor Programme (EB-5), which would qualify them for a U.S. Green Card and permanent residency. Ramirez, however, did not fulfill these promises and instead used the funds for personal purposes.
Justice Dada remarked, “The convict dishonestly converted the money meant for investments to his personal use. The prosecution has successfully proved that the promises made to the victims were false, and the funds obtained were under fraudulent pretenses.”
The fraudulent activities, which began in 2013, included a case where victim Godson Echegile lost $545,000 under the guise of a processing fee for the EB-5 programme. Ramirez was initially arraigned on 12 counts of fraud but was later re-arraigned on 16 counts on June 24, 2022.
During the trial, the prosecution, led by M.S. Owede and Samuel Daji, presented documentary evidence and witness testimony, while the defense counsel, Mr. Lawal Pedro (SAN), cross-examined. The case faced several adjournments before final addresses were adopted on May 8, 2024.
In a separate case, Ramirez was convicted of defrauding Gabriel Ogie Edeoghon of $250,000 on July 26, 2013, under the false promise of investment in USA Now Energy Capital Group LP, which would also lead to a U.S. Green Card. Ramirez received additional sentences of eight years each on counts one to six and 10 years each on counts seven and eight for this fraud.
