17 hours ago
18
The Economic and Financial Crimes Commission (EFCC) has arrested 28 persons suspected of operating a Ponzi scheme in Minna, Niger State.
The Kaduna zonal directorate of the agency said the suspects were arrested at a three-bedroom apartment in Al-Bishiri Talba Estate, following a tip-off on fraudulent investment activities under the guise of a network marketing scheme.
According to the EFCC, the suspects operated a company, Q-Net Ltd, which they claimed to be affiliated to companies in Dubai, India, Indonesia, and Thailand.
It said victims paid between $790 and $850 (approximately ₦1,462,000) as a registration fee and for product purchases.
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The agency said at the time of the raid, some of the suspects were receiving lectures on Ponzi scheme operations, disguised as “network marketing.” Items recovered included Q-Net application forms and other incriminating documents.
The EFCC said the suspects would be charged to court after investigations.
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