A so-called investment expert, Dominic Ngene Joshua has been nabbed by the Special Fraud Unit, Lagos has arrested for allegedly diverting investors’ funds worth over N2 billion.
The 21-year old man who is to be the manager of Managing Director/Chief Executive Officer of Brisk Capital Limited was arrested following petitions to the unit by several investors.
Instablog9ja reports that Joshua’s modus operandi is to lure his victims via social media platforms such as Instagram, Facebook and LinkedIn, as well as newspaper publications where he claims to be a financial investor that manages funds for individuals and companies.
Victims were conned to invest in Bitcoin, FOREX trading, real estate and oil and gas, with a promise of quick and 60 per cent Return On Investment per month on every fund invested.
Funds belonging to over 500 investors were diverted to sponsor extravagant lifestyle, exotic cars, luxury watches, real estates in Lagos, Abuja and Port Harcourt.
The suspect has confessed to the crime, but pleaded to be given time to return the monies.
The SFU said some of the properties and items purchased with the diverted funds have been recovered from him, and he will be charged at the Federal High Court soon.