N2bn Fraud: EFCC Arrests Ponzi Scheme Operators In Rivers

The Economic and Financial Crimes Commission said it has arrested 19 officials of an alleged fake investment company that has defrauded members of the public to the tune of N2bn.

The company, Bluekey Investment Club, operating from Sonia Mall, 42 Woji Road, YKC Junction, Port Harcourt, Rivers State, was registered with the Corporate Affairs Commission as a software development and general contracting firm but allegedly veered into an interest-yielding ponzi scheme with 10 per cent weekly returns on investment over six months.

The scheme also promised total returns of invested capital after six months.

Nineteen staff of the company were rounded up on Friday in Port Harcourt, the state capital.

Public Relations Officer of the company, Princess Tsaroigbara, told interrogators that her firm was into “digital financial and other technological services” and was not sure if the company was fully registered with the Security and Exchange Commission and the Central Bank of Nigeria.

Scores of defrauded customers thronged the premises of the company seeking the intervention of the EFCC.

Items recovered from the company include computer units and a sum of N459,300.

The suspects would be charged to court as soon as investigations are concluded, the EFCC said.

 

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source http://saharareporters.com/2019/08/31/n2bn-fraud-efcc-arrests-ponzi-scheme-operators-rivers