Detectives from the Special Fraud Unit (SFU) of the police in Lagos have arrested the Managing Director of Brisk Capital Limited — an investment firm — Dominic Ngene Joshua, for diverting investors’ funds worth over N2 billion.
Our correspondent reliably learnt that the 21-year-old suspected fraudster was arrested following petitions to the unit by several investors and verified intelligence gathered on his activities which the police said was evident in banking records.
Mr Joshua, a native of Ebonyi State, according to the police, operates from Uyo, the Akwa Ibom State capital.
The Commissioner of Police (CP) in charge of the SFU, Anderson Bankole, in a statement, said the suspect lured his victims on social media platforms such as Instagram, Facebook and Linkedin, as well as via newspaper publications.
CP Bankoke said, in the publications, the suspect claimed to be a financial investor of repute and that he managed funds for individuals and companies.
He explained that the victims were conned to invest in Bitcoin, forex trading, real estate and oil and gas with a promise of prompt and accurate 60 per cent Return on Investment (ROI) per month on every sum invested, plus a guarantee of the invested principal.
Bankole said, “The funds which belong to over 500 investors was diverted to sponsor extravagant lifestyle, parties, exotic cars, luxury watches and real estates in Abuja, Lagos and PortHarcourt.
“The suspect confessed to the crime but pleaded to be given time to return the monies. Some of the properties/items purchased with the diverted funds have been recovered as exhibits while the suspect will be charged to court as soon as the strike by Judiciary Staff Union of Nigeria (JUSUN) is called off.”