By Ankeli Emmanuel
Nigeria’s anti-graft agency, Economic and Financial Crimes Commission (EFCC), Sokoto Zonal office, has arrested Benson Kufre John, Iraboh Joseph Eseosa and one other, for allegedly defrauding unsuspecting members of the public to the tune of three billion naira within the last six months.
“The suspected Fraudsters deceived their victims and made them believed that the funds would be used to trade in forex, Cryptocurrency, etcetera. However, they were robbing Peter to pay Paul, instead, a typical Ponzi scheme,” the EFCC Zonal Head, Usman Bawa Kaltungo, said in Sokoto, while addressing journalists on the matter.
According to him, the fraudsters used one Sunday Markus, to open an account with the name, Annexation Business Concept, which they use to defraud victims.
Mr. Kaltungo said, their investigation revealed that the operation of the account is at variance with the stipulated objectives of the company, which is “General Merchandise/ General Contract”.
He said the EFCC received a complaint from United Bank for Africa (UBA) Plc, about the said account, which had a turnover of about three billion, five hundred and fifty-five million, three hundred seventy-two thousand, six hundred and fifty-four naira, forty-three Kobo (#3,525,372,654,43) within six months.
Warning members of the public against being lured by mouth-watering returns on investment, online advertorials that is too good to be true, Usman Kaltungo said some of these fraudsters even go ahead to register companies, solely for such dubious activities.
“In order to attract more investors, the suspects paid the first set of investors by robbing Peter to pay Paul, and this created a surge in the number of people that put in their hard-earned money, which they later diverted to their personal use”.
Mr. Kaltungo noted that the fraudsters also have accounts with GTB, Zenith Bank, and a Parkway Ready Cash Account.
He added that the EFCC has obtained an interim forfeiture order in respect of about 17 properties belonging to the said Annexation Business Concept.
