The Chief Executive Officer of Brisk Capital Limited, Dominic Ngene Joshua has been arrested for allegedly diverting investors’ funds worth over N2 billion.
21-year-old suspected fraudster was arrested by detectives from the Special Fraud Unit (SFU) of the Lagos State Police Command following petitions by several investors and verified intelligence gathered on his criminal activities.
Joshua was accused of deceiving individuals to invest in Bitcoin, forex trading, real estate and oil & gas with a promise of prompt and accurate 60% return on investment (ROI) per month on every sum invested, plus guarantee of the invested principal.
Detectives say he lure his victims on social media platforms such as Instagram, Facebook and LinkedIn, as well as via newspaper publications where he claimed to be a financial investor of repute that manage funds for individuals and companies.
The police said Joshua, who hails from Ebonyi State and operated from Uyo, the Akwa Ibom State capital, has confessed to the crime but pleaded to be given time to return the money which the police said was evident in banking records.
The Commissioner of Police (CP) in charge of the SFU, Anderson Bankole, in a statement, said the suspect lavished some of the money on extravagant lifestyle and parties,
“The funds, which belong to over 500 investors, were diverted to sponsor extravagant lifestyle, parties, exotic cars, luxury watches, real estates in Abuja, Lagos and Port-Harcourt,” the statement read.
“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.”
Anderson Bankole, commissioner of Police in charge of the SFU, advised the public to be wary of investment and portfolio managers that suspiciously promised very high returns.
He noted that the SFU was willing to provide credible information to genuine prospective investors who approach the unit for background checks.
Bankole assured that the unit will not relent in its efforts towards bringing fraudsters that are giving the country a bad name to book.
KanyiDaily had also reported how an aide to Ogun State Governor was recently arrested in the United States for alleged $350,000 COVID-19 unemployment fraud.