EFCC assured that those arrested will face prosecution once investigations are completed
EFCC, Army Raid Ponzi Scheme Academy, Arrest 133 Suspects in Abuja
The Economic and Financial Crimes Commission (EFCC) has apprehended no fewer than 133 individuals linked to a suspected Ponzi scheme operating under the guise of an academy in Gwagwalada, Abuja.
According to the EFCC, the academy, known as Q University or Q-Net, was actively recruiting young Nigerians and indoctrinating them into fraudulent financial schemes.
The recruits, after undergoing a so-called “Special Training for New Generation Billionaires,” were expected to bring in more unsuspecting individuals with promises of unrealistic returns on investment.
Dele Oyewale, EFCC’s spokesperson, revealed that the suspects were lured into the scheme by purchasing an “Independent Representative Application Form,” which carried promotional slogans like “I’m a Champion,” “I’m Unstoppable,” and “I’m Infinity.”
Meanwhile, the operation was carried out in collaboration with the 176 Guards Battalion of the Nigerian Army. Items recovered from the suspects include mobile phones, computers, and other electronic devices.
The EFCC has assured that those arrested will face prosecution once investigations are completed. Read More
