Eric Patrick
Operatives of the Economic and Financial Crimes Commission, on Monday, busted a Ponzi Scheme Academy and arrested 133 suspects in Abuja.
This was contained in a statement by the EFCC, and shared on its Facebook page on Monday.
According to the statement, the suspects were arrested at the Compensation Layout in Gwagwalada area of the Federal Capital Territory, FCT, Abuja, following actionable intelligence on the existence of the Academy.
The Academy, named Q University (a.k.a Q-Net) is in the business of recruiting gullible young Nigerians who are trained to recruit more gullible citizens into the scheme with the promise of getting unrealistic profit returns.
The statement further added that, Victims got into the training by obtaining a form the promoters called “Independent Representative Application Form” with promotional slogans such as, “I’m a Champion” “I’m Unstoppable”, “I’m Infinity”, among others.
The EFCC carried out the operation in collaboration with officers and men of Nigerian Army from the 176 Guards Battalion.
Items recovered from the suspects include phones, computers and other electronic gadgets.
The EFCC stated that the arrested suspects will be charged to court as soon as investigations are concluded.
