Tag: Ponzi Scheme
Fraud Alert: Fintech accounts used to defraud 4,000 Nigerians in new Ponzi scheme
The platform, introduced between July and September, presented itself as a real estate investment business and received deposits through microfinance…
Celebrations as EFCC returns recovered N96.5m to victims of Ponzi Scheme in Enugu
The petitioners had alleged that Akpojewve lured them into investing in the ponzi scheme with offers two formats a Monthly…
EFCC Arraigns Ponzi scheme director for alleged N13.8b fraud
The defendant alongside other suspects, now at large, allegedly lured members of the public to invest their hard-earned money which…
Ponzi scheme victims lament loss, seek urgent action from SEC
Some victims of Ponzi schemes have lamented their losses on their investment worth billions of Naira.
4 Beninese, 2 others arrested over fraud activities in Gombe
The six suspects comprise two indigenes of Gombe state and four Beninese who entered into the country illegally and were…
Fake ponzi scheme operator jailed 7 years in Port Harcourt
Justice A.T. Mohammed of the Federal High Court sitting in Port Harcourt, Rivers State, has convicted and sentenced a fake…
Notorious Ponzi Scheme operator arraigned in Uyo
An alleged notorious Ponzi Scheme operator, Umanah Umanah has been arraigned by the Economic and Financial Crimes Commission, EFCC before…
Investors storm Oko Oloyun’s office, demand refund
Tens of Lagosians on Friday stormed the LASU Road office of late Alhaji Fatai Yusuf, popularly known as Oko Oloyun,…
Victims of Ponzi scheme protest as court gives the Nwegwu brothers fine option
Victims of a Ponzi scheme executed by two brothers, Kingsley Nwegwu and Joakin Nwegwu, both directors of ACJEC Global Services…
N7.5b Ponzi Scheme: Court orders detention of Galaxy boss Abba Dalori
Babagana Abba Dalori, managing director/chief executive officer of Galaxy Transportation and Construction Services Limited has been ordered detained by the…
EFCC smashes N2b Ponzi scheme in Port Harcourt, owner on the run
Operatives of the Economic and Financial Crimes Commission, EFCC, Port Harcourt’s Zonal Office have arrested 19 staff of a fake…
Ponzi Scheme: Micheno boss to Remain in Prison over N320m fraud charge
The Economic and Financial Crimes Commission, EFCC, has arraigned the registered trustee of Micheno Multi-purpose Cooperative Society, Mr. Uno Michael…
SEC warns Nigerians against trending ponzi scheme
The Securities and Exchange Commission (SEC) has warned Nigerians against fraudsters currently running an online investment scheme tagged “Loom Money…
EFCC arrests Dalori, CEO Galaxy Transport, over N7bn Ponzi scheme
The Economic and Financial Crimes Commission (EFCC) has arrested the Chief Executive Officer of Galaxy Transportation and Construction Services Limited,…
NAICOM dissociates self from trending Ponzi scheme
The National Insurance Commission (NAICOM) has dissociated itself from a Ponzi scheme, which was recently ascribed to it and is…
MMM Ponzi Scheme In A Comeback Bid
The money making scam, Mavrodi Mundial Moneybox (MMM), that collapsed months ago, has launched a weekly promotional stunt, obviously aimed…
Depression making ponzi schemes thrive in spite of risks – Yudala
Yudala, an e-commerce firm has said that ponzi schemes are thriving in the country due to depression.
Indian Ponzi Scheme MD Arrested
After dodging the police for over 4 years, Mir Sahiruddin, managing director of Green Ray International Limited (GRIL), was netted…
Ashimolowo not involved In Ponzi scheme – KICC
The Kingsway International Christian Centre (KICC), a London- based organization, of the main church pastored by Matthew Ashimolowo, has refuted…
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Trending: Mathew Ashimolowo’s church loses $5m to Ponzi Scheme
Kingsway International Christian Centre, a 12,000-member mega church in Britain headed by Nigeria’s Pastor Mathew Ashimolowo, lost $4.8 million to…
Nigeria’s $2.5m Ponzi scheme operator charged
The Economic and Financial Crimes Commission has charged a 35-year-old man, Segun Bright before an Ikeja High Court in Lagos…
President Linked With Wonder Bank Fraud
A group of lawmakers in Benin Republic wants President Boni Yayi impeached over his suspected involvement in a Ponzi scheme…