The Economic and Financial Crimes Commission (EFCC), Port Harcourt Zonal office, has recovered N1 billion from suspected Ponzi scheme fraudsters in the zone.

The head of the zonal office, Abdulrasheed Bawa, who disclosed this at a media briefing in Port Harcourt yesterday, said the commission recovered the said amount out of N2 billion the suspects collected from their victims.

He said men of the commission, after surveillance activities, arrested the suspects who, he said, promised their victims 10% monthly returns and payment of the principal after six months.

He said the suspects convinced their victims that they were into foreign exchange and crypto currency trading. Bawa also stated that the zone, in the last eight months, recorded 149 convictions, made N268,934,375.75, $2,012,568.00, and £15,000 recoveries while 162 cases are still pending in court.

Read more: https://www.dailytrust.com.ng/efcc-recovers-n1bn-from-ponzi-scheme-suspects-in-rivers.html

Ponzi scheme that has no name?

What do these government liars take us for?

Nigerians are the easiest people to deceive.

Ponzi still dey?

Laf in holy ghost fire

1 billion naira from ponzi scheme

And how will the victims get back their money or na fed govt get this one too?

Lol efcc on the beat.

Who gets the money now?

This is good news. Don't just recover the money, also lock them up.

They are nothing but criminals

Who are the suspects and what's the name of the ponzi scheme? What sort of news is this?

Now the money belongs to federal government. See how greedy people are paying unwarranted tax to the federal government.

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Don't just recover pls sentence them to death

Useless fools

Fools are still abound and needs to be exploited.

Yawa dey O

EFCC just dey recover money Anyhow.

My question is this... All these money wey dem dey recover since.....in what ways have Nigerians benefited from the recovered looted money?

What and what do the government do with it?

Instead of the government to use the money to build more industries and employ the youths so as to reduce the level of unemployment in the country...they are busy paying senators **Hardship allowance and even Newspaper allowance"

Who did we actually offend in this country?

Who are these people deceiving? Is that even a Ponzi scheme as described in the content? That is an investment scheme


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What will they do with the recovered funds?

No Name of the Ponzi
no details
no name of the owner...
half baked information...

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SLAP44:
Ponzi scheme that has no name?

What do these government liars take us for?

Didn't you see the part that said He convinced them to thinking it is a FOREX and Crypto biz.....

SLAP44:
Ponzi scheme that has no name?

What do these government liars take us for?

What they are trying to say is that it's amongst the fraud medium they busted and money recovered

Nigerians and Pomzi Scheme business... No fast lane to Success. Hard work is the key

Anyone still doing ponzi should be jailed too. Both customers and operators

People have fallen, still fall and will keep on falling for these schemes...



It happens for various reasons

Fraud everywhere in Nigeria, both home and abroad.
God save this country

This is Daura evening newspaper.

JOHNSONSOLAFUNMI:
Laf in holy ghost fire

2 billion naira from ponzi scheme

And how will the victims get back their money or na fed govt get this one too?

Sure like sun rising from the east! I even believed that they are just declaring 50% of what they recovered

That one can make 10% in a month in FOREX doesn't make it a ponzi scheme. One can actually make over 60% in a month in FOREX if he is educated, skilled, disciplined and can curb his greed. Or does it mean that every business anyone must undertake must be less than 10% ROI before it can be regarded as legit?
Rubbish!

wenn i hear ponzi scheme i remember MMM

And what exactly makes this a Ponzi scheme? Return of 10% in a month, though high but not necessarily superfluous really. Forex and crupto can actually assure that if the trader is very well educated and experienced. The report never said the guys ran away or not. These reporters sef! Please make your reporting complete, detailed and unbiased always.

They should also tell us what dey will do wt that recovered loot n many others..thanks