The Special Fraud Unit, Lagos have arrested a 21-year-old young Nigerian over N2 billion fraud.
The suspect who claims to be an “investment expert” was arrested for allegedly diverting investors’ funds worth over N2 billion.
The suspect identified as Dominic Ngene Joshua, is the Managing Director/Chief Executive Officer of Brisk Capital Limited.
Dominic met his waterloo following petitions to the unit by several investors.
The Ebonyi State born suspect who operates from Uyo, Akwa Ibom State, reportedly lures his victims via social media platforms and newspaper publications.
He lured his investors by claiming to be a financial investor who manages funds for individuals and companies.
He deceived victims to invest money in Bitcoin, FOREX trading, real estate and oil and gas, with a promise of 60% Return On Investment per month on every fund invested.
However, funds belonging to over 500 investors were diverted to sponsor Joshua’s extravagant lifestyle, exotic cars, luxury watches, real estates in Lagos, Abuja and Port Harcourt.
According to the Special Fraud Unit (SFU), the suspect has confessed to the crime, but pleaded to be given time to return the funds.
The SFU said some of the properties and items purchased with the diverted funds have been recovered from him, and he will be charged at the Federal High Court soon.
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