28th September, 2010
The Police Command in Katsina State has arrested the Manager of Trend Spin ResourceÂ Limited, Mr Kenechi Edward for allegedly fleeing with investorsâ€™ N100 million.
Parading the suspect in Katsina on Monday, the Police Commissioner, Alhaji Sabo RingimÂ said the suspect was apprehended in Lagos following a tip-off.
He said the suspect, who established the company in Katsina in February, persuaded peopleÂ to invest in it to enable them to obtain 70 per cent interest on their investments.
â€œConsequently, people invested their money with the hope of realising the interest, butÂ the management of the company suddenly disappeared into thin air.
â€œImmediately the report got to us, we swung into action and tracked him down,â€œ he said.
Also paraded were four suspected car snatchers, a suspected rapist and 12 suspected armedÂ robbers said to have operated on Malumfashi-Funtua road.
Ringim said some of the items recovered from the suspects included a Toyota car, twoÂ locally-made guns, six machetes, sticks, axes and pinchers as well as a mobile phone,Â among others.
The commissioner said that as soon as the police concluded its investigations, theÂ suspects would be charged to court.