The Managing Director/Chief Executive Officer of Brisk Capital Limited, Dominic Ngene Joshua, for allegedly diverting investors’ fund worth over N2bn.
The Special Fraud Unit, Lagos, announced Joshua’s arrest in a statement issued on Monday, the Cable reports.
Joshua was accused of conning individuals to invest in Bitcoin, forex trading, real estate, oil and gas with a promise of prompt and accurate 60% return on investment (ROI) per month on every sum invested, plus a guarantee of the invested principal.
The 21-year-old indigene of Ebonyi state operates the investment firm from Uyo, Akwa Ibom state capital.
According to the police, Joshua lures victims on social media platforms such as Instagram, Facebook and LinkedIn, as well as through newspaper publications with claims he is a financial investor of repute that manages funds for individuals and companies.
The police said Joshua has confessed to the crime but pleaded to be given time to return the money.
“The funds, which belong to over 500 investors, were diverted to sponsor extravagant lifestyle, parties, exotic cars, luxury watches, real estates in Abuja, Lagos and Port-Harcourt,” the statement read.
“Some of the properties/items purchased with the diverted funds have been recovered as exhibits while the suspects will be charged to the Federal High Court as soon as the strike by Judiciary Staff Union of Nigeria (JUSUN) is called-off.”
The commissioner of Police in charge of the SFU, Anderson Bankole, has advised the public to be wary of investment and portfolio managers that suspiciously promised very high returns.
He noted that the SFU was willing to provide credible information to genuine prospective investors who approach the unit for background checks.
Bankole assured that the unit will not relent in its efforts towards bringing fraudsters that are giving the country a bad name to the book.
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