See this thread: https://www.nairaland.com/6331257/wales-kingdom-capital-ponzi-scheme

The Lagos Zonal Office of the Economic and Financial Crimes Commission, EFCC, has arrested a couple for allegedly defrauding unsuspecting victims in a N935m Ponzi scheme.

The suspects, Emmanuel and Victoria Jaiyeoba, who were arrested at their residence in Ibadan, Oyo State, are parents to Adewale Daniel, Marketing Director, Wales Kingdom Capital Limited.

The suspects, in complicity with their son, who is still at large, operate a Ponzi scheme in the guise of forex trading to defraud their unsuspecting victims.

Investigation revealed that Emmanuel, who is a Director in Wales Kingdom Capital, operates five bank accounts and had received a sum of N18, 397, 913. 67 before his arrest.

Further investigation also showed that the second suspect, Victoria, operates six bank accounts through which she received fraudulent transactions to the tune of N916, 607, 715. 48.

The suspects will soon be charged to court.

Media & Publicity

30 June, 2021

Source: https://www.efccnigeria.org/efcc/news/6916-efcc-arrests-couple-over-alleged-n935m-ponzi-scheme-in-lagos

The father seems proud of his son.

chatinent:
The father seems proud of his son.

Exactly.

The guy has gone into hiding and investors haven't been able to find him.

For 935m they should arrest even their extended families

I don't think the guy will show up. Some people are naturally wicked he could be one..... Japa to unknown destination. By now maybe he is somewhere outside the shore of this country

If I hear say he show face

The youths have become so greedy and materialistic that they can do anything for MONEY.
Get FREE MONEY now via the 10,000 FREE love coin giveaway for early Adopters now and cash out big soon before it is too late oh. See my sigy below this my comment now oh!

Damnnn niggar
Isoright ...

Iceyjayz:
But honestly I blame gullible Nigerians for this, some Nigerians are very gullible and greedy for my liking

Exactly

Is this fair? Doesn't look right to me

BigSarah:
Is this fair? Doesn't look right to me

I felt so too at first, but if you know the number of people this guy has ruined. Students depressed, people that can't visit their home or talk to their family.

The amount stated here doesn't do justice o. The money he scammed people of is into billions of Naira, because he had many affiliates that had as much as 400 million upwards with him from people that registered under them, not to now talk of direct investments under his company.

This people go win case for court the evidence is clear, money no show for their body

.

Only in Nigeria where a criminal's relatives are arrested in their place. I've never seen this happen anywhere if the relatives are not complicit in the crime.

Na wa.

AlhajiBitcoin:


When you tell them say business no dey this country again, dem go dey make noise. Business still dey but very few.

What business gives 10% monthly returns talkless 30% ?

lol.e plenty ooo except u don't know Ur way boss

Umaruxoxo:
lol.e plenty ooo except u don't know Ur way boss

That's just it

We have lots of business that can give up to 10% ROI but are people ready to do it?

If you ask someone to go and be frying akara now, Dem go tell you sey na nonsense person dey talk but with proper management and packaging, someone will definitely makes more than 10% ROI frying akara

shopnimini:
For 935m they should arrest even their extended families

But honestly I blame gullible Nigerians for this, some Nigerians are very gullible and greedy for my liking

The Papa no even send una

Na the papa send the boy message to dupe people..



Check him face and posture

Nigerians love Ponzi Scheme too much how can someone promise you 60% profit on investment in 1-3 month

Wetin concern parents

temitope27:
Wetin concern parents

Money went through their accounts

BuyAndSellStuff:
Only in Nigeria where a criminal's relatives are arrested in their place. I've never seen this happen anywhere if the relatives are not complicit in the crime.

Na wa.

Nigeria has signed up to the "Doctrine of Joint Enterprise". If you allow your bank account to process huge volumes of cash from a ponzi scheme, you are complicit.

Listen carefully ... if you receive referral fees for geting someone to join a fraudulent scheme, you are complicit if they come after you and your assets.

So, MBA Forex for example - if you know anyone connected to that scheme that convinced you to invest, or promoted it to your detriment (some even on Nairaland), go after them with EFCC. Forget Maxwell Odum for now, his own watery beans is just being soaked.

Iceyjayz:
But honestly I blame gullible Nigerians for this, some Nigerians are very gullible and greedy for my liking

Some? You must mean A LOT

shopnimini:


Some? You must mean A LOT

Anyway you put it

Everyday for the thief, one day for the owner.

Diz is so wrong..

The way people fall for this schemes amuse me

You have your hard earned money and you don't know what to do with it

Can't you invest it back in the work that gave you the money or just use it to buy land and resell

Well maybe serious voodoo is involved

This stupid practice of arresting family members of criminal suspects when the suspects go underground seems to be the norm in this shithole. And the most annoying part is that is that Nigerians don't see anything wrong with it (probably until it happens to them). This really speaks about the gross incompetence of those clowns called the Nigerian police.

imagrg:
The youths have become so greedy and materialistic that they can do anything for MONEY.
Get FREE MONEY now via the 10,000 FREE love coin giveaway for early Adopters now and cash out big soon before it is too late oh. See my sigy below this my comment now oh!

While the elders are pious monks who are great role models for upright living. As exemplified by those braindead mutts in government.

The don leave hin Papa and mama behind to enjoy life.

BuyAndSellStuff:
Only in Nigeria where a criminal's relatives are arrested in their place. I've never seen this happen anywhere if the relatives are not complicit in the crime.

Na wa.

Read the storyline and see the complicity of the parents in the committed crime. They were part of the crime and their son was the CEO.

HedwigesMaduro:


While the elders are pious monks who are great role models for upright living. As exemplified by those braindead mutts in government.

He's forgotten that the bad value system of a large majority of elders in Nigeria is what makes this country a terrible place to live on all fronts. They heightened corruption, nepotism, robbery and all sort of financial crimes and the youths are just inheriting the same from them