EFCC arrests 133 in ponzi scheme bust in Abuja
EFCC arrests 133 in ponzi scheme bust in Abuja
Operatives of the Economic and Financial Crimes Commission (EFCC) on Monday raided a Ponzi scheme academy and arrested 133 suspects in Abuja.
EFCC’s spokesperson, Dele Oyewale, confirmed the operation in a statement on Monday.
Oyewale said the suspects were apprehended at the Compensation Layout in Gwagwalada, Abuja, after receiving actionable intelligence about the academy’s activities.
“The academy, named Q University (also known as Q-Net), lured young Nigerians by promising them unrealistic profits.
“The recruits were trained to further recruit others, using the slogan “Special Training for New Generation Billionaire.
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“”he suspects joined the scheme by filling out an “Independent Representative Application Form,” with promotional slogans like: “I’m a Champion,” “I’m Unstoppable,” and “I’m Infinity.”
The EFCC, in collaboration with officers from the 176 Guards Battalion of the Nigerian Army, executed the operation.
He said items seized from the suspects included phones, computers, and other electronic gadgets.
“The suspects will be charged in court once investigations are completed.”
EFCC arrests 133 in ponzi scheme bust in Abuja
