The Economic and Financial Crimes Commission (EFCC), Ibadan Zonal Office, has arrested a 43-year-old company executive for allegedly defrauding people of over N128 million, in a fraudulent investment scheme.
Wilson Uwujaren, the EFCC’s spokesperson, disclosed this in a statement made available to newsmen on Friday, in Ibadan.
According to a report by the News Agency of Nigeria (NAN), the 43-year-old suspect had used his company DHIL Nigeria Limited, otherwise known as Crime Alert Security Network Investment, to defraud his unsuspecting victims.
Uwujaren said that the suspect was arrested following a series of petitions received from some of his victims.
He said the petitioners alleged that the suspect had, through his company, persuaded them to invest in a network scheme that offered a monthly return of 30 per cent on investment, while persuading them to invest after listening to his weekly radio programme.
“The victims alleged that after investing their money, they neither received the promised interest nor got a refund of their capital investment,” he said.
In its investigations, Uwujaren also said that the commission found that the suspect operated a classic Ponzi scheme and had defrauded hundreds of people, some of whom reported orally to the commission.
He said that petitions were still pouring into the commission daily from the suspect’s alleged victims.
“It was discovered that DHIL Nigeria Limited, the vehicle used by the suspect to scam his victims, was also not registered with the Central Bank of Nigeria, as a financial institution,” he said.
The EFCC spokesman said that five exotic cars, three landed properties and other incriminating documents were recovered from the suspect who, he said, would be charged to court as soon as investigations were concluded.
