An American businessman, Marco Antonio Ramirez, was sentenced to 74 years in prison by a Lagos State Special Offences Court in Ikeja for defrauding victims of over $1.2 million through an elaborate EB-5 visa scam. Justice Mojisola Dada handed down the sentence after finding Ramirez guilty on multiple counts of fraud, following charges brought against him by the Economic and Financial Crimes Commission (EFCC).
Ramirez, along with his companies— Eagle Ford Instalodge Group LP, and USA now LLC Energy Capital Group —lured victims with promises of access to the Employment-Based Fifth Preference U.S. Investor Programme (EB-5). He claimed that this would qualify them for Green Cards and permanent residency in the United States. However, instead of delivering on those promises, Ramirez dishonestly converted the victims’ funds for his own personal use. The court found that Ramirez had taken $1.2 million through this scam, as well as an additional $368,698.24 in fraud.
Justice Dada, while delivering her judgment, stated, “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 pretences.”
Ramirez’s scheme targeted individuals like Godson Echegile, who lost $545,000 under the pretense of securing a Green Card. With this conviction, the Lagos court sent a strong message against visa-related fraud, particularly schemes that exploit the desire for U.S. residency.
