Authorities in United States have mapped out ways of recovering $10.7 million that has been ordered to be restituted by convicted fraudster, Obinwanne Okeke.
It should recalled that Okeke was recently sentenced to 10 years in prison by an Eastern District Court of Virginia after he pleaded guilty to multi-year wire fraud in June last year. Also, he was ordered to go through three years of “supervised release” after completing his jail term.
After completing his jail sentence, Okeke will be taken to a duly-authorised immigration official of the Department of Homeland Security Bureau of Immigration and Customs Enforcement “for deportation review”. The official will then determine whether to deport him immediately or make him go through the three years “supervised release” in the United States.
Premium Times has gotten a ‘Restitution Order’ and ‘Consent Order of Forfeiture’ signed by the judge, the Acting U.S. Attorney in the Eastern District of Virginia, Raj Parekh, Mr Okeke, and his defence lawyer, John Iweanoge.
The United States authorities have the power to enforce the monetary judgment by taking over credit, assets or monetary claims Mr Okeke may possess in the country.
The restitution is in full due and payable instantly from assets known and unknown which include assets discovered in the Presentence Report.
The assets include Okeke’s “white gold emerald cut engagement ring with small accent diamonds”. The other assets to be forfeited are ”two cars back home in Nigeria”, and N280,555,010 which totals about $700,000 which has been seized from him by the Nigerian government.
Also, Okeke was urged “to participate in the Bureau of Prisons’ Inmate Financial Responsibility Programme” so he can comply with the provisions of the “financial plan” and enable him meet his “financial obligation” in line with the law. He is expected to make instalmental payments during his three years of supervised release.
The court decreed that starting from 60 days of his release from prison and his transition into the supervised release phase, Okeke will remit whichever is greater between $1,000 or 25 percent of his net earnings.
Part of the restitution order read: “If restitution is not paid in full immediately, the defendant shall pay to the Clerk at least $1,000 per month or 25 per cent of net income, whichever is greater, beginning 60 days after release from any period of confinement, or 60 days after sentencing if no confinement is imposed.
“All payments shall be made to the Clerk of Court, United States District Court, 2400 West Avenue, Newport News, Virginia 23607.”
The restituted funds will be shared among companies that fell victim of Okeke’s fraudulent acts. The companies are Unatrac Holdings LLC in Washington DC, which was duped $5,429,166.54; Orient Insurance PJSC, which was duped $ 5million, and QBE European Operations which lost $250,000 to Okeke and his cohorts.
The court ordered that the Clerk of Court “shall distribute the funds to Unatrac first and to the remaining victims on a pro-rata basis.”