EFCC Arrest 28 Suspected Ponzi Scheme Operators In Minna, Niger State

Twenty-eight individuals suspected of running a Ponzi scheme under the guise of network marketing have been apprehended by agents of the Economic and Financial Crimes Commission (EFCC) in Minna, Niger State.

The EFCC reported that the arrests were made following reliable intelligence that connected the suspects to fraudulent investment operations involving a company named Q-Net Ltd, which is reportedly based in a three-bedroom apartment located in Al-Bishiri Estate, Minna.

Naija News reports that the individuals taken into custody 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.

Additionally, the list of suspects comprises 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.

Victims were misled into believing that the company had international affiliations in Dubai, India, Indonesia, and Thailand and were persuaded to invest between $790 and $850, totaling ₦1,462,000 (One Million, Four Hundred and Sixty-two Thousand) as registration fees and for product purchases. Some of those arrested were found attending lectures on Ponzi scheme operations while posing as participants in “network marketing.”

Items seized from the suspects included Q-Net application forms and various documents. They are expected to face charges in court once the investigations are completed.