₦airaland Forum

Badgers14:
Her step from that video tho.....Is this the Ovaioza that scammed people billions? small nyash dey shake sha!!

Back to the topic .

If government agency truly siezed the bank accounts of these ponzi companies, why are the government not setting up committee to compile the names of the victims and start paying them from the accounts??

Abi they are waiting for the victims to die finish and someone will corner the money??

Yes, the victims might have been silly to invest in a scheme like this, yes they arrested Ovaioza and Chinmark? But the victims need their money.

Liquidate the assets of the company plus the money in their accounts and start paying the victims please!

The money in those accounts can't pay 0.00001% of the creditors. Most of these return on investment (ROI) scams failed because it's not sustainable. Simple. The projections for profitability were exaggerated excessively wildly. Then the promoters begin to live lavishly, mismanaging the business while using Peter's money to pay Paul. When it falls apart, they are as surprised as the investors. I briefly worked for one such guy. After it dawns on them that it's impossible to raise billions just to pay creditors, they gather what little is left and disappear. That is, if police don't arrest them first.

Greediness of our people.
Yoruba says if you want free things prepare for loss because freebies dey tear pocket.

mrvitalis:
Nigerian police are just not smart

Ponzi is not a crime in Nigeria ...as long as she added disclaimer to the form there is no offense commited

It is indeed a crime. Except as you said, she put out a disclaimer. Sorry for her investors, but she should get a good lawyer. Many have walked!

Badgers14:
That is indeed a shame.

Someone said in a different post online that some oga at the top might be getting some cut from this ponzi schemes, but I don't want to believe this is true.

The government should please act sensible in this matter.. the U.S government did that with Bernie Maddof.

Someone said in a different post online that some oga at the top might be getting some cut from this ponzi schemes, but I don't want to believe this is true.

Believe it and you will know peace in Nigeria

gambia:
Most Nigerians are just too greedy and gullible, imagine the small girl scamming them, funny people.

how old is the owner of Facebook ? Is he scamming people. If na by age , my grandfather should be Elon Musk

Foolishbuhari:
It is indeed a crime. Except as you said, she put out a disclaimer. Sorry for her investors, but she should get a good lawyer. Many have walked!

Mo where in Nigeria constitution is Ponzi a crime absolutely no where

The only thing they can hold her with is obtaining money by trick but that's not easy to prove

She would be charged , sent to prison for a few days , weeks or max 3 months ...granted bail and case would start ..

Most Nigeriansns not just too greedy and gullible, fathom the small girl conning them, funny folks

toprealman:
She had good intention but along the line someone made her derail. Be mindful of the people you let into your life.

This one is still here making excuses for her! Mtseews!!

Mynd44:
Facebook billionaire that was begging for 2k giveaway in 2020.

People sef are mumu.

Someone who in 2020 was begging for funds in the DMs suddenly posts that she has bought houses and trucks and you believed and carried your life savings to her.

Thats how FUNAAB boys were scamming then 2020/2021 with "crypto investments"

It's such a shame.

Even if she happened to have trusted investors, all she had to do was be honest and trustworthy.

Such a shame and a blow to some of us that seek soft investment because this is yet another fraud blight on Nigeria.

All the actors of Ego mbute ( empowerment) in Abia where are they They are walking freely as it stands , police will get their own cut and tell u to cry urself to court... why Nigeria no won learn

toprealman:
She had good intention but along the line someone made her derail. Be mindful of the people you let into your life.

good intentions where? Agriculture business is risky to start with not to talk of believing a lady from no where...

Lightorder:
how old is the owner of Facebook ? Is he scamming people. If na by age , my grandfather should be Elon Musk

Its not by age though, but mere looking at this lady how will people feel so comfortable investing in her scam with all the recent happenings.

Rugaria:
One Ponzi scheme after the other and the people won't learn and the regulatory agencies won't be decisive till another set of people are ruined. Symptoms of a failed country..

ponzi is part of life. As far you are putting money in something external to you.

benjackugo:
Ponzi: Police Arrest Storage Business Owner, Ovaioza For Defrauding Nigerians (Photos, Video)


https://www.youtube.com/watch?v=Qdn6L2_2b6U

The Police have arrested Imu Ovaioza Yunusa, the CEO of Ovaioza Group of Companies, for alleged ponzi scheme, IGBERETV reports.

Ovaioza who is popular on Facebook, is the founder and co-owner of Ovaioza Farm Produce Storage Business (OFPSB). The company engages in processing, storage, distribution and retailing of farm produce such as garri and plantain. Ovaioza also co-owns Ovaioza Skills Acquisition Center (OSAC) and Relax and Chill.

Ovaioza is accused of scamming hundreds of people’s money running into billions of Naira. Ovaioza offered investors a huge return on investment. She once claimed to have bought a plaza in the nation’s capital for more than N500million. The same property was put on sale for N500million on a trading website after it expired.

She was allegedly planning to leave the country with her husband, David when the officers apprehended her in Abuja.

The case is being handled by the Force Criminal Investigations Department (FCID).

Facebook user, Fab Que who initiated the arrest shared video of the arrest;

Fab Que wrote;



https://m.facebook.com/story.php?story_fbid=10218662661356526&id=1797923146

Ovaioza was born on December 30, 1993. She hails from Okene Local Government Area of Kogi State and attended College of Arabic and Islamic Studies in Okene.

According to reports, she attended School of Nursing And Midwifery in Nasarawa State and Bayero University in Kano State.

https://igberetvnews.com/1418360/ponzi-police-arrest-storage-business-owner-ovaioza-defrauding-nigerians-photos-video/

Her husband could be the serial storage products fraudster DAVID OVYE on nairaland here. Can someone help dig deep into this matter?.https://www.nairaland.com/4321108/scam-alert-david-ovye-scammer#72089522

Boogyman557:
Holly Gram Chai dis BANI 2 Sweet oo..


She too fine ABEG!



Una sure sey I no go join police force, So that I fit de NACK this woman inside SELL!


LITE UP my WEED in peace


WTF MAN!

This EKUKE fine for your eyes? Keep smoking weytin u dey smoke.

OneCandleAway:
Maybe it'd the guy she married that deceived her

I don't think so.

He is just a cab driver she married.

She even lied about him being a son of a wealthy woman.

siofra:
I don't think so.

He is just a cab driver she married.

She even lied about him being a son of a wealthy woman.

Cab driver!!!

Of all people with all the money she had access to?

I guess she liked his physique.

Ishilove:
The power of photo filters and makeup

No be small thing o

Boogyman557:
Holly Gram Chai dis BANI 2 Sweet oo..


She too fine ABEG!



Una sure sey I no go join police force, So that I fit de NACK this woman inside SELL!


LITE UP my WEED in peace


WTF MAN!

Be like this weed don dey worry you. This one fine 4 your face so??

mrvitalis:
Mo where in Nigeria constitution is Ponzi a crime absolutely no where

The only thing they can hold her with is obtaining money by trick but that's not easy to prove

She would be charged , sent to prison for a few days , weeks or max 3 months ...granted bail and case would start ..

Ponzi is a fancy name, Obtaining by trick is the crime. Especially if it's proven that she had an express agreement with her victims, and instead used those funds for her personal activities.

There are also claims of fake alerts she sent... That should be a new charge, if it were in the US don't quite know about Nigeria.

Error!
Before u delve into someone's bio do ur background check thoroughly.

Ovaioza even though is an Ebiran but she isn't from Okene or Kogi state.
She is a native of Edo state.
Ebira speaking part of Edo called Etuno or gala

Though she grew up in Okene with her maternal aunt. Pls resist from calling a Kogite.

Nigerians no dey kukuma learn �

codesport:
Her husband could be the serial storage products fraudster DAVID OVYE on nairaland here. Can someone help dig deep into this matter?.https://www.nairaland.com/4321108/scam-alert-david-ovye-scammer#72089522

����

That's not true, she never begged for 2k in 2020... She was even doing giveaways by then sef

Mynd44:
Facebook billionaire that was begging for 2k giveaway in 2020.

People sef are mumu.

Someone who in 2020 was begging for funds in the DMs suddenly posts that she has bought houses and trucks and you believed and carried your life savings to her.

Thats how FUNAAB boys were scamming then 2020/2021 with "crypto investments"

Foolishbuhari:
Ponzi is a fancy name, Obtaining by trick is the crime. Especially if it's proven that she had an express agreement with her victims, and instead used those funds for her personal activities.

There are also claims of fake alerts she sent... That should be a new charge, if it were in the US don't quite know about Nigeria.

Every agreement is subjective to situations

mrvitalis:
Every agreement is subjective to situations

Force majuere is different from taking people's monies and squandering it on houses abroad and car gifts to allies and cronies.

Don't forget even intent is a crime if proven.

Foolishbuhari:
Force majuere is different from taking people's monies and squandering it on houses abroad and car gifts to allies and cronies.

Don't forget even intent is a crime if proven.

Intent is difficult to prove na bros

Proving it's peoples money not her gain is tricky

You know the justice system need prove beyond reasonable doubt

I believe she just dey FRONT , someone else dey behind dey run the show.

mrvitalis:
Intent is difficult to prove na bros

Proving it's peoples money not her gain is tricky

You know the justice system need prove beyond reasonable doubt

Yeah intent is difficult but doable my brother

Proving it's not her gain but people's money may not be easy but it's doable. It's a matter of modeling the business, checking inflow and outflow of all her accounts and the answer would be obvious.

Can you spend what you've not yet gained or earned?

The case lies on the prosecutor's canniness and smarts. Easy way to get her off the hook sha would be to compromise the prosecutors, so they handle the case carelessly. This particular strategy is in the EFCC's play book.