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Ovaioza: Police Arrest Popular Entrepreneur Accused Of Defrauding Investors over 4billion

Operatives of the Nigerian Police Command in Abuja have arrested popular agriculture entrepreneur, Ovaioza Yunusa, following allegations that she swindled investors out of their money running into hundreds of millions.

Ovaioza news: Police Arrest Popular Agric Entrepreneur Accused Of Defrauding Investors over 4billion

Sources at the police command revealed that Yunusa was arrested over allegations bordering on “criminal breach of trust and cheating” levelled against her.

Ovaioza crime Story:

Ovaioza operated an agric produce storage business in Nigeria under a registered business known as the Ovaioza Farm Produce Storage Business (OFPSB).

She started a partnership scheme that promised investors between 70-80% return on investment while constantly keeping them updated on their investments on her verified Facebook page, thereby gaining visibility and the trust of would-be investors.

Ovaioza Yunusa was accused of living a lavish lifestyle as more people invested in the business, while also diversifying into other areas in the last one year.

READ: EFCC Declares Founder Of MBA Forex, Maxwell Odum Wanted For N213 Billion Fraud

In March 2022, she was accused of mismanaging investors’ funds, leading to her inability to pay investors return on their investments.

In a Facebook post on Saturday, she admitted that the business was in a crisis but assured investors that their monies would be paid.

According to Ovaioza, she had registered OFPSB with the Corporate Affairs Commission (CAC) but claimed that she was not aware that she needed to also register with the Securities and Exchange Commission (SEC).

“However, I must admit my ignorance as to the extent of corporate compliance that is necessary for my buying and selling business, especially as the business grew, owing to funds sought from the public.

“I asked my lawyer to reach out to SEC to ensure the needful was done. I did this to ensure that my interest and the collective interest of my partners are protected by law.

“My lawyer duly reached out to SEC and reported back to me (I was not the one who went to SEC) that SEC said they don’t regulate buying and selling.

“I must also admit that maybe we should have made a written application requesting for SEC to register my business, but unfortunately we did not do so.

“This huge mistake on our part is particularly why are here battling to wriggle out of the SEC conundrum and not necessarily whether a petition was written against OFPSB or not.

“I say so because, without registration with SEC, it was only a matter of time before they come for us if we had carried on the business without registration,” she wrote.

ALSO READ: EFCC Arrests Ibadan CEO For Defrauding People Of Over N128 Million In Investment Scam

Ovaioza: Police Arrest Popular Entrepreneur Accused Of Defrauding Investors over 4billion 1

Ovaioza Networth | Biography | Group of companies | Cars

Ovaioza once claimed to have bought a plaza in the nation’s capital Abuja for over N500million. The same property was put on sale for N500million on a property website shortly after.

Ovaioza who also co(owns) Ovaioza Skills Acquisition Center (OSAC) and Relax and Chill was accused of splashing heavily on brand new cars.

She was born on December 30, 1993 and hails from Okene Local Government Area of Kogi State.

Ovaioza attended the College of Arabic and Islamic Studies in Okene. She reportedly attended the school of Nursing And Midwifery in Nasarawa State and finished at Bayero University in Kano State.

READ: EBSU First Year Students Arrested For Defrauding Two People Of N4.4 Million In Ebonyi

Ovaioza Boyfriend | Husband | Marriage

Ovaioza got married earlier this year to a man named David and few months later she was accused of scamming hundreds of people’s money running into billions of Naira.

She was allegedly planning to leave the country with her husband, David, when she was arrested by officers of the Nigerian Police in Abuja.

Not much is known about the man in Ovaioza’s life.

ALSO READ: Joshua Adeyinka Kayode Arraigned For Defrauding 170 People Of N10.8 Billion

2 Comments

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  1. Mehn! I am still trying to understand how Ovaioza convinced people to invest millions of naira in Garri storage. People actually invested N20 million, N29 million etc in Garri. I am not understanding?!?

    I read somewhere that she bought a house in America and was actually buying time to jappa whether that is true or false me I no sabi o

    Let’s not forget how your so called facebook influencers were hyping Ovaioza on these streets. What long throat, cliques and giveaway cannot do does not exist. People like us no dey any clique so we catch cruise and keep it moving ni

    And as for those of you that listen to Facebook influencers and ambassadors about one investment or the other I repeat again, biko use your brain. God gave you a brain for a reason, it’s not for decoration. Not When the investment crashes you start to call “God”, sing “Ekwueme”, be raining curses and shouting “karma, karma, karma” upandan. Biko keep kwayet, you knew what you were doing, you wanted to cash out before it crashed. Simples!

    You see these online, the more you look the less you see. My people when you do follow follow biko think, Know this and know peace 🙏🏾

    Have a great day ❤️

  2. A girl that was begging for urgent 2k and hustling on give away post for 2020.

    How did she do it!!! She also bought a house in US for $400k

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