Skip to content
Calitown

Calitown

News, Here, Everytime!

  • Home
  • News
    • Cross River News
  • Features
  • Community
  • Inspirational
  • Toggle search form
  • C’River Senator Distances Self From Rift In C’River APC, Says He Holds Ayade In High Esteem News
  • UNPAID BENEFITS: C’River Varsity Staff Protest, Vow To Deposit Corpse At C’River A-G’s Office News
  • Compromised Recruitment Process: LG Service Commission Chairman Resigns In C’River News
  • Crunchies Begins Business In Ugep … Friday November 7, 2025! News
  • End Litigation, Unite Behind Otu, Bakassi Leader Urges News
  • CRSG Partners Chinese College For Educational Exchange News
  • One Year After, Yakurr LG Boss Restores Water Supply To Council Secretariat, List Achievements  News
  • Cross River’s Political Class & The Boomerang Of Cynicism News

Is Michael Eke, Calabar’s Ponzi Scheme King?

Posted on October 2, 2018 By Admin No Comments on Is Michael Eke, Calabar’s Ponzi Scheme King?
Michael Eke

This is Michael Eke, the man who operated the Micheno Multipurpose Cooperative Society, MMCS, in Calabar, Cross River State.

Under the MMCS’ investment plan, members who deposited N100, 000 earned N150, 000 in 40 days; N200, 000 got N300, 000 in 40 days; N600, 000 got to earn N900, 000 in 40 days; N1million were to get N1.5 million in 40 days and N2 million earned N3 million in 40 days. Amounts higher can be invested but will be in multiples of 1 million.

It is believed that on the strength of these financial promises a whooping N27 billion in depositor funds entered Eke’s hands. The snag now is that these funds cannot be accounted for  while Eke has gone into hiding as apprehensive investors are confronted with the stark reality that their deposits are gone for good.

In the exclusive that we publish this Friday, October 5, 2018, we serve you something out of the ordinary; the transcriptions of a phone call we obtained, where Eke makes some startling revelations.

Don’t be told, make it a date as we continue to dig deep and serve you exclusive stories that stand www.calitown.com out.

Share this post:

Share on X (Twitter) Share on Facebook Share on Pinterest Share on LinkedIn Share on Email Share on WhatsApp Share on Telegram
Features, News Tags:Michael Eke, Micheno Multipurpose Cooperative Society

Post navigation

Previous Post: PDP Clears Jarigbe, Idagbo As Sole Candidates, Etaba May Battle
Next Post: It Is Finished, PDP Shuts Out Agara

Related Posts

  • Surprised CRSHA Member Posts Disclaimer On Facebook Cross River News
  • Labour Battles Ayade Over FG’s Bail-Out Funds To CR Community
  • More Drama Expected As AFCON Quarter-Finals Begin News
  • Suspected Phone Thief Burnt To Death In Calabar Cross River News
  • Chiwetalu Agu, Nollywood Stars, Storm COE, Akamkpa News
  • All Man For Himself And The Politics Of Cross River State Cross River News

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recent Comments

  • Arikpo Arikpo on Jarigbe Dumps PDP For APC … Says He Is Teaming Up With Pres. Tinubu!
  • Fayman on C’River: Two Beheaded In Renewed Ochon–Ofutop Communal Clash
  • Ben John on Ikom/Calabar Highway: Hellish Times Continue
  • Jane Luka Lamba on Edgerley, My Edgerley: With Nostalgia I Remember Edgerley!

ADVERT: Click to Watch!

https://calitown.com/wp-content/uploads/2017/10/VID-20170928-WA0003.mp4
  • Ayade Inaugurates 15-man COVID-19 CR Response Team Cross River News
  • When NUJ Cross River State Summoned Crossriverwatch News
  • Cross River And Ayade’s Mill Of Promises News
  • New Ward & LG Exco List Stuns CRS PDP Cross River News
  • CR Microfinance and Enterprise Development Agency Board Chair Greets CR First Lady On Her Birthday  Cross River News
  • Frankland Briyai’s Governorship Ambition Is Quite Shocking! Cross River News
  • Raffle: Street Sweeper Wins Car In Ogoja Community
  • APC Crisis: Court Bars Etim John Led Exco From Parading Self Cross River News

CALITOWN
...News, Here, Everytime

Quick Menu

  • Home
  • News
    • Cross River News
  • Features
  • Community
  • Inspirational

Copyright © 2021 calitown
172 Greenwood Avenue , Hull. East Yorkshire. HU6 9NY

Powered by PressBook News WordPress theme