Osemwengie’s company would send photographs of farms that did not belong to them to investors
Harrison Osemwengie, the founder of HO Corn, has been declared wanted by Interpol over a multibillion-naira investment fraud.
Osemwengie was on a media campaign in February 2020, where he talked about his firm’s offer of a 50 per cent return on investment (ROI) after six months to anyone willing to take advantage of it.
Osemwengie had said that his company would be able to pay the agreed 50 per cent ROI adding that the business was well insured in the event of a disaster.
People subscribed in droves to the farm after the appearance. However, no promised ROI was paid.
Osemwengie’s company would send photographs of farms that did not belong to them to investors.
In July 2020, investors began to complain about non-payment of promised ROIs, raising doubts about the company’s authenticity.
When this happened, HO Corn quickly issued a statement blaming the pandemic and the lockdown for its inability to make payment. It, however, promised that by August, investors would get their money.
Shortly after, the company left its third-floor office at the Africa Reinsurance Building, Karimu Kotun Street, Victoria Island, Lagos, without informing its investors.
Despite mentioning that the company had 30,000 acres of farmland in Ofiki, near Iseyin in Oyo, it was established in December 2020 by curious investors that the land being used as a cornfield by the company was not as big as claimed, Foundation for Investigative Journalism reports.
BUSINESS: Fidelity Bank Restates Support for CBN FX Repatriation Push, Sensitizes Customers in Emerging Opportunities in non-Oil Exports
