Men of the Police Special Fraud Unit (PSFU) have arrested a 21-year-old businessman for diverting investors’ funds worth over N2 billion.
Dominic Ngene Joshua is the Managing Directo of Brisk Capital Limited and has been accused of fraudulently luring investors into Bitcoin, forex trading, real estate, and oil and gas.
He promised the unsuspecting investors 60% return on investment (ROI) per month on every sum invested in addition to a guarantee of the invested capital.
The Police SFU announced on Monday, that Joshua was arrested from his operational base in Uyo, Akwa Ibom State.
It stated that the 21-year-old lures members of the public via social media platforms like Facebook, Instagram and LinkedIn in addition to newspaper publications where he profiles himself as a financial investor of repute who manages funds for individuals and companies.
He is however, said to have confessed to the crime but pleaded for time to return the money.
Part of the police statement reads that, “the funds, which belong to over 500 investors were diverted to sponsor extravagant lifestyle, parties, exotic cars, luxury watches, real estate in Abuja, Lagos and Port Harcourt.
“Some of the properties/items purchased with the diverted funds have been recovered as exhibits while the suspects will be charged to the Federal High Court as soon as the strike by the Judiciary Staff Union of Nigeria (JUSUN) is called off.”
Anderson Bankole, Commissioner of Police in charge of SFU advised the public to be mindful of investment and portfolio managers that suspicious promised high returns.
He also advised the investing public to request for information regarding any investor especially if they promise high returns.