Operatives of the Kaduna Zonal Directorate of the Economic and Financial Crimes Commission have arrested 28 suspected Ponzi scheme operators in Minna, Niger State.
The commission disclosed it in a statement on X this Tuesday, saying that the suspects were arrested after intelligence reports linked them to fraudulent financial activities with a company, Q-Net Ltd.
Victims were made to believe that the company, which was operating from a three-bedroom apartment in Al-Bishiri Estate, Minna, had affiliates in Dubai, India, Indonesia, and Thailand. The company was said to operate to
The commission said the victims lost between $790 and $850, amounting to N1,462,000 as a registration fee and for product purchases.
The statement partly read, “Part of those arrested while receiving lectures on Ponzi scheme operations, dressed up as ‘network marketing.’ Items recovered from them reportedly included Q-Net application forms and other documents.”
EFCC also revealed the names of the suspects to include: “Nofisat Opeyemi, Shukurat Muritala, Odunayo Sanni, Mayowa Oyekola, Aishat Olaitan, Edward Hannah, Abioye Fathiah, Joseph Omowunmi, Kareem Ahmed, Arikeusola Afeez, Adiamo Mutholib, Abass Ibrahim, Wasiu Taofeek, Adeniji Damilare, Nurudeen Akinola, and Mubarak Yekeen.
“Others are Adedeji Ayobami, Alani Samuel, Ogundele Yunus, Adekunle Ibrahim, Adewale Azeez, Rufai Faruk, Fawaz Yekeen, Olade Abdullahi, Ahmed Murtala, Adisa Habeebllahi Akorede, Adigun Timilehin, and Abdulfatai Ridwannullah.”
The agency noted that the suspects would be charged in court as soon as investigations are concluded.