EFCC arrests 3 suspects over alleged N3.5 bn online investment fraud

By AdvocateNews on 24/06/2021

Share on facebook Yahoo mail icon Gmail icon

Views: 623


The Economic and Financial Crimes Commission (EFCC), Sokoto Zonal Office, has arrested three suspects over alleged N3.5 billion online investment fraud.

Mr Bawa Kaltungo, EFCC Head in Sokoto State, made the disclosure while addressing newsmen on the achievements of the Zone on Thursday in Sokoto.

Kaltungo said the Zonal office received a complaint from UBA, which centred on an account in the name of Annexation Business Concept, opened by one of the suspects.

“The account had a turnover of over N3.5 billion within a period of six months.

“In the course of investigation, we discovered that the operation of the account was at variance with the stipulated objectives of the company, which stated general merchandise and contracts.

“The suspects purposely opened the account with intent to defraud unsuspecting members of the public in the name of investment.

“Our investigation further revealed other accounts in GT Bank, Zenith Bank and a Parkway Ready Cash account.”

He said that the accounts were opened by the principal suspect, but operated by two other suspects.

According to him, the investment is a pyramid ponzi scheme promising members of the public high and unrealistic returns. 

“It is worthy to also note that the suspected fraudsters deceived their victims and made them believe that the funds would be used to trade in Forex, Cryptocurrency among others.

“However, after a painstaking investigation spanning nine months, we were able to make a breakthrough by arresting three suspects while the others are at large,” Kaltungo said.

The official stated that in addition to the arrest, the commission recovered some money and properties ranging from exotic cars, palatial residential buildings in choice areas of Lekki in Lagos, Port Harcourt and Calabar worth N354.8 million.

Kaltungo warned the public to be wary of those who present their business or investment proposal that will yield high and unbelievable returns within minutes.

He said the EFCC, under the leadership of its Executive Chairman, Abdulrasheed Bawa, would continue to checkmate the activities of men of the underworld, to sanitise the economic environment. (NAN)

Posted 24/06/2021 11:11:19 PM

 

Share on facebook Yahoo mail icon Gmail icon


 

You may also like...
Police seal Governor Udom’s church in Akwa Ibom,...

Okoroma, Bayelsa Community decries neglect, demands renewal of...

10 feared killed, cattle roasted, in Anambra truck...

Coronavirus: Sanwo-Olu lockdown Lagos State

Kogi: 76,575 voters to participate in Dec. 5...

15 Lucrative businesses one can own as a...

Community loots N60m stolen by robbers from Oyo...

2023: "We want a humble, peaceful governor like...

Domestic workers steal N243m jewellery from Lagos celebrity...

Over 150 bandits invade Katsina communities, police repel...

Riot policeman shoots self to death in Imo...

APC, PDP weak with deceitful manifestoes –Dogara

 

Latest News 2023: ‘Pairing of Governor Yahaya Bello and FFK as candidate and running mate untrue’ – APC Chieftain You’re just an attention seeker – PDP tells Umahi Maiduguri thrown into darkness again as ISWAP blows up high tension electricity towers Breaking: INEC office in Awgu, Enugu state set ablaze Angry residents set six suspected bandits ablaze in Sokoto community Ex-CBN Deputy Governor, Mailafia is dead Gunmen attack political meeting in Enugu, threaten no election in South East in 2023 Unknown gunmen kill 3 policemen in Enugu EFCC arrests 16 internet fraud suspects in Enugu Osinbajo charges religious leaders to pay Pentecost tax Miyetti Allah chairman dies in the hands of kidnappers — Official Rumour of Ugwuanyi joining APC is false - Onoh

 

Most Read I’ve no Coronavirus, govt wants to kill me – Anambra Index case (169,594 views) Ugwuanyi commends FG’s siting of ICT University in Enugu (167,740 views) Ebonyi bans embalming of corpses in homes (167,740 views) FG sends new directive to banks, schools as Buhari extends lockdown by four weeks (167,740 views) Fleeing ex-DG Imo Broadcasting Corporation who stabbed wife to death arrested (167,738 views) Sickle cell support group seeks government intervention (167,737 views) Ex-Heads of State will protect Jonathan from persecution —Kukah (167,731 views) Full Text of Governor Ifeanyi Ugwuanyi’s 2016 Budget Speech (167,662 views) HUSHPUPPI: CRIMINALS HAVE NO TRIBE. THEY SHAME ALL OF US... (164,763 views) ASUU strike: Senate intervention ends in deadlock (164,358 views) All you need to know about Peter Obi, PDP VP Candidate (135,137 views) DEMOCRACY DAY: President Muhammadu Buhari’s full speech (133,595 views)

 

 

SECTIONS FAITH (156) EDITORIAL (17) NEWS (6,643) POLITICS (493) SOCIETY (129) SPORTS (51) BUSINESS (364) HEALTH (57) EDUCATION (48) ENTERTAINMENT (49) INTERNATIONAL (176) TECHNOLOGY (1) COLUMNISTS (57) LETTERS (4) OPINION (37)

 

 


There are no video entries posted yet.