News BiteSecurity

21-Year-old Dominic Ngene Arrested For N2bn Investment Fraud

Screenshot 20210526 051328
Share this post

The Police Special Fraud Unit (PSFU) have arrested Dominic Joshua Ngene, the Managing Director of Brisk Capital Limited.

Ngene, 21, is in custody for allegedly diverting investors’ funds worth over N2billion.

Next Read: We’re Expecting 12 Fighter Jets, Insecurity Will End Soon – Godwin Emefiele

He is accused of deceiving individuals to invest in Bitcoin, forex trading, real estate and oil and gas.

Ngene promised 60% Return on Investment (ROI) per month on every sum invested, plus guarantee of the invested principal.

The Fraud Unit said Joshua, an Ebonyi indigene, operated the firm from Uyo, Akwa Ibom.

He directed prospects to Instagram, Facebook and LinkedIn, and publications where he claimed to be a successful financial investor.

Joshua confessed to the crime but pleaded to be given time to return the money, SFU Commissioner, Anderson Bankole said in a statement.

Also Read: Minister of Justice, AGF Malami Make Submissions on Recovered Loot at House

The Police found the funds of over 500 investors were diverted to sponsor extravagant lifestyle, parties, exotic cars, luxury watches, real estates 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 Judiciary Staff Union of Nigeria (JUSUN) is called-off.”

The SFU cautioned Nigerians against investment and portfolio managers who promises high returns.

Image courtesy of Seunmanuel Faleye - ApplesBite International Magazine
Principal Partner at | Website | + posts

Seunmanuel Faleye is a brand and communications strategist. He is a covert writer and an overt creative head. He publishes Apple's Bite International Magazine.


Share this post

Comment here