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A’Court Upholds Conviction of Philemon Ibrahim Gora for Alleged N11bn Fraud Linked to Ponzi Scheme

Published

7 months ago

April 9, 2026

The Court of Appeal has upheld the conviction of Philemon Ibrahim Gora who was prosecuted by the EFCC on an 11-count charge bothering obtaining money by false pretenses and doing banking business without license issued by CBN.

Gora who was prosecuted by EFCC’s Samuel Ugwuebulam, defrauded over 60,000 Nigerians to the tune of over 14 billion Naira as a ponzi scheme operator.

He was convicted alongside his company, Cashflow Abi Network Limited, by the Federal High Court, Abuja presided over by Hon Justice Ijeoma Ojukwu on the December 10, 2024.

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A’Court Upholds Conviction of Philemon Ibrahim Gora for Alleged N11bn Fraud Linked to Ponzi Scheme

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A’Court Upholds Conviction of Philemon Ibrahim Gora for Alleged N11bn Fraud Linked to Ponzi Scheme

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BIGPEN NIGERIA

A’Court Upholds Conviction of Philemon Ibrahim Gora for Alleged N11bn Fraud Linked to Ponzi Scheme

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