Following allegations of a Ponzi scheme worth over 355million involving Mr Prince Emeka, CEO of Gladuis Urban Farm Africa Ltd, The Federal High Court in Port Harcourt has granted bail to Prince Emeka Ineh, CEO of Gladius Urban Farm Africa Ltd., who is currently facing charges over an alleged Ponzi scheme worth over 355million that defrauded hundreds of investors.
The court’s ruling comes despite strong opposition from the prosecution, with bail granted under stringent conditions aimed at preventing flight risk and ensuring compliance with judicial processes. The terms of the bail include; Two sureties, one of whom must possess a valid Certificate of Occupancy (C of O), and the other a recognized Chief with verifiable tax clearance, resident within jurisdiction. The defendant must surrender all international travel documents to the court. The prosecution is tasked with verifying the residential addresses of both sureties. The bail was set at ₦30 million. The court sternly warned that any attempt by the defendant to abscond will result in a bench warrant issued for his arrest internationally.
Prince Emeka, alleged to have orchestrated the fraudulent investment scheme alongside family members and associates, remains at the center of an ongoing investigation by the Department of State Services (DSS). The scheme, masked as a poultry farming investment, reportedly has no physical operations and is said to have used deceptive marketing tactics to lure investors.
The Court has adjourned the matter to 21st October, 2025 for further proceedings.
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