The Economic and Financial Crime Commission (EFCC) is set to arrest four Ponzi scheme operators across Nigeria within the next few weeks.
This was disclosed by a source in the anti-graft agency, who preferred anonymity. The source could not mention the names of the operators and their companies for security reasons.
According to the source, the affected companies are among the ones some financial experts have been warning ignorant investors to stay clear from via social media platforms, especially Twitter.
What the source is saying about the arrest
He said, “We are coming for the operators in a matter of few weeks and most of them operate largely in Lagos but reside outside the commercial hub of the nation. They believe they are smart but the Eagle is watching and they will be charged to court in a matter of days.
“These fraudsters have reaped several Nigerians off their hard-earned money while others have lost their lives due to the shock they got when they realised they have been swindled. We have also observed that a lot of the Ponzi schemes thrive, especially during a recession or economic hardship, but we will also choke them as they are only out to entice Nigerians with some fixed returns only to disappear in a few months or years.”
Rising cases of Ponzi schemes
Nigerians have recently been exposed to rising cases of Ponzi schemes, which are often pervasive during periods of the economic crunch.
- On March 8, 2022, EFCC had secured the conviction and sentencing of a notorious Ponzi scheme operator, Umanah Umanah before Justice Agatha Okeke of the Federal High Court sitting in Uyo, Akwa Ibom State.
- Umana’s nightmare started in 2020 when he was arrested by operatives of the EFCC following a petition by one of his victims, who alleged that Umanah swindled him of over N2.9million and subsequently issued him an N500, 000. 00 cheque, which was dishonoured by the bank because the account was not funded.
- During the investigation, the Commission discovered that the defendant lured his victims through bogus promises of return on investment of up to 50% in seven days through his company, No Burn Global Limited, with a network in several states of the federation.
- He was subsequently arraigned on Friday, October 16, 2020, on a two-count charge bordering on the issuance of dud cheque, forgery and uttering; offences which contravened the provisions of Section 1 (2) (C) of the Miscellaneous Offences Act Cap M17 of the Revised Edition (Laws of the Federation of Nigeria) 2007 and punishable under Section 1 (2) of the same Act. He pleaded “not guilty” upon arraignment, setting the stage for his full trial.
- Also in Lagos, the anti-graft agency had arrested a couple for allegedly defrauding unsuspecting victims in an N935million Ponzi scheme.
- The suspects, Emmanuel and Victoria Jaiyeoba, who were arrested at their residence in Ibadan, Oyo State, are parents to Adewale Daniel, Marketing Director, Wales Kingdom Capital Limited.
- The suspects, in complicity with their son, who is still at large, operate a Ponzi scheme in the guise of forex trading to defraud their unsuspecting victims.
- Investigation revealed that Emmanuel, who is a Director in Wales Kingdom Capital, operates five bank accounts and had received a sum of N18, 397, 913. 67 before his arrest.
- Further investigation also showed that the second suspect, Victoria, operates six bank accounts through which she received fraudulent transactions to the tune of N916, 607, and 715. 48.
Kudos to @officialeffc i just hope the owner of Famzhi interbiz Abuja is inclusive on the list
I want to know what will be done to these scammers when arrested. Will victims actually get there money back?
I fall victim to one but I got him arrested and detained in a police custody.
But yet haven’t gotten any feedback on how to recover my money. So what should I do.
Kudos Eagle eyes @officialefcc please how far with the owner of Themap Ng?
Please include Dr. Sam Afolabi and his Homeflex Global investment company among the Ponzi schemes. EFCC should go after him
Thanks the EFCC for this action, God Bless Nigeria. at least it will help reduce a lot of ponzi in this country
Hahahahahaha…. They only made an announcement of their intent yet you already thanking them? Why not simply go quietly and arrest them before making an announcement? Which one is more effective? Most of these sleezy operators have an escape plan. Once they have made enough they simply melt into thin air so imagine what’s going to happen next after the more than adequate “notice” the EFCC has given them.
I’m happy with this development. Please I would like to include TITAN FARMS and the CEO – Engr. Gbenga Eyiolawi as ponzi scheme. I invested 9 million naira with them for perboiled to rice since May,2021. Which was due for payment since August 2021. No capital or Return was paid. On two occasions, I was issued with dude cheques. Up till now no definite time for repayment.
Kindly send your petition to Efcc lagos, Capital market fraud section or come to the section with your section
Efcc bravo, pls include abadini rice makurdi
What are you doing about MBA. They are the worst set of ponzi criminals in.recent time
EFCC is doing great work. The Commission should also go after Marksman Chinedu Ijiomah, the owner of Chinmark Group, Paradise Hotel in Enugu, Chinmark Restaurants in Enugu and Lagos, Chinmark Logistics in Lekki and Uyo, etc. The man resides in Enugu and he has defrauded thousands of Nigerians to the tune of Billions of Naira. He is planning to run away to Dubai, where he owns two restaurants at Dubai and Sabkah.
There is one Mr Adunola Seyi Emmanuel of foxygreen agro enterprise in odo-ona kekere area of Ibadan.
Please help us get him Efcc.
Over 3bilkion naira diverted
Please EFCC should also go after James Omini Nero who swindled billions in the form of forex trading (Shadownet global services) and has been in hiding since last year January
Africgold is one them please EFCC raise up , we have their numbers the bank account I pay I have it so it’s easy to trace and arrest them. Thank you for this move.
Efcc will only announced but what happened thereafter to this guy’s and victims money?
Afrigold i have one of their wicked director, that doesn’t care about what you say when she scams you!
Kindly escalate TITAN FARMS as Ponzi scheme in order for the public to be aware and take precautions. Thanks
May God help us all, we all need to be very careful and vigilant there are alot of ponzi schemes out there that are defrauding unsuspecting Nigerians of their hard earned money we all need to be our brother’s keeper.
Pls help fish out the ones operating these Reverse bets Ponzi schemes also pls po they are 86z, 86w, CFC etc
Are they Ponzi scheme too. I thought it’s just like other betting companies. Pls let it not be. Pls reach me on 09027229294
Are they ponzi too?
They’re
86 f has been acting strange recently
Please sir look into weman bank staff activities there flooding people money with online loan platform . Some of them will not give you loan but they will be asking you to pay for what you didn’t receive. Some after paying the amount will till be on they dashboard . They will start calling your contact to come and pay off the loan that you have already paid for. They will show 226000 at the app and credit your account with 12000 and can you to pay back 226000
Chineke ekwela ihe ojor! I tot scamming oyibo na de worst that has ever happened to our country or the bad economic crumblings lol,. I can’t even involve myself into this shits…
Better i go scam a white man in a healthy country, atleast he can recover quickly…not a graveyard! We call country! So sad!
Pls help us to get the person behind reverse betting platform 86fb, millions of Nigerians have invested in the platform and since the Easter celebration, people have complaining about withdrawing their money, I urge EFCC to swift into action ASAP🙏
Are they Ponzi scheme too??
Please any help you can tender to get people behind 86fb they destroy my life 😭😭😭 please bring them to the book
In also a victim
Please i also want to plead with naira metrics to also publish the name of this ponzi scheme in calabar name activecode.
Thank you
Africgold is one of them.
Afrigold too need to be investigated, they are the biggest scamming platform currently
Please @efcc also include Stackfaucet investment , a fraudulent ponzi, that have defrauded millions of Nigerians, pretended to trade in forex.
The best way to avoid ponzi is to not invest in any scheme that promise return that is too good to be true.
After my experience with mmm and MBA, thats my resolution. Rather learn it and monitor your investment yourself. However, investing is taking risk.
Also work with your hands and be contented. I have benefited from some of them though I have lost in many of them. My wife and I invested 700k with MBA and recovered around 300k before it colapsed. So my eyes are very clear now.
Please efcc should arrest africgold mining they have duped Nigerians alot and even me am a victim plz help us
Please Efcc what are you doing about dw arerbem Mr David wealth is no were to be found with investors money
I will like to add urquq.net and urquq.site to the list.
The is a corruption in the country persion no fr hustle, any small things na crime nawa oo🥺.
Pls hope sport arbitration platform are not there 86z , lucky football and others
Samuel Uko of SU Global needs to be arrested, detailed, imprisoned with the keys thrown away for defrauding thousands of Nigerians. He’s posting cruise on Instagram after defrauding us. EFCC and Nigerian police kindly do the needful. His Instagram handle is @dhatohafiaguy
Nigerians are not ready to learn a little lesson. I feel pity for some of us. There are numerous number of ponzi schemes around. Learn an online skill like video editing, graphic design, etc. They say it’s a waste of time and stressful, they prefer a company that can’t show its physical product or digital product or its registration number and certificate of registration of business with the government. Mumu pipu everywhere for Nigeria
If Bet Naija other lotto platforms are not included , then let Antibettiing sites 86fb, CFC, Lucky FB etc & other genuine ones operate freely . Everyone can’t even bet , but reverse football sites bets for their members. Let truth be told, These sites ve been paying regularly until easter time when they were interrupted with series of investigation by Govt , authorities in charge . payments started to be scanty.
They came with a plea for members to let them clear the backlog of withdrawals as their population is so much. A days break heaps a heavy accumulation of withdrawal requests.
Pls, guys stop reporting fb86, they have started paying well.
LuckyFb & Chelsea FC are running smoothly.
Pls, give them free hand to move, the more u report them , the more u slow or stop them. Tnx concerned investor.
86fb 86w is not ponzi. we are not complaining about the platform please. Leave us alone. Go after politicians.
Am very happy for this job that Efcc is doing in handling this fraud internet scammers
I am also a victim but the people claim as flat form crowd 1forex & trading crypto in telegram still they are operating I invested my money but later i realise they’re scammers
they keep playing with my sense that’s how i loose my money and end up zero
I know alot of people will fall in their hands
Arch Miebi Bribena of Baraza Cooperative should be arrested too for swindling people’s money. His headquarter is in Bayesla and he has branches in some States too
People should stay out of ponzi too too avoid being arrested. Ask if you calling people out so you don’t know you are also in trouble for involving in illegal activities? How many times will government announce that people should avoid investment plans that promise huge returns? Yet you guys try your luck and come here to show yourself. Don’t be surprised when police also shows up at your door and you claim innocent on Facebook cos of ignorance. You are the ones promoting these ponzi/scammers because of you don’t involve yourself, they won’t scam you.
Go and learn a trade or even find a job and grow your money little by little so you can have pace of mind. That’s my candid advice
Please any help you can tender to get people behind 86fb they destroy my life 😭😭😭 please bring them to the book
Amb. Sam Afolabi with his notorious Homeflex global should be included in the list of Ponzi Schemes in Nigeria. The man with all his marketers should be arrested and jailed for life. Homeflex global is the greatest enemy of the nation
Homeflex Global is never a property investment company, but a scammer group of criminals headed by Amb. Sam Afolabi (Dr.) The criminals have been at large since last year. Nemesis will surely catch up with them one day. They must surely meet their waterloo. These are the people destroying the image of this country Nigeria all over the world.
Let EFCC go after these dubious people