Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested 28 individuals in Minna, Niger State, for allegedly running a Ponzi scheme under the disguise of network marketing.
The arrests followed an intelligence report linking the suspects to fraudulent investment activities associated with Q-Net Ltd, a company reportedly operating from a three-bedroom apartment in Al-Bishiri Estate, Minna.
List of Arrested Suspects
Among those taken into custody are:
- Nofisat Opeyemi, Shukurat Muritala, Odunayo Sanni, Mayowa Oyekola, Aishat Olaitan, Edward Hannah, Abioye Fathiah, Joseph Omowunmi, Kareem Ahmed, Arikeusola Afeez, Adiamo Mutholib, Abass Ibrahim, Wasiu Taofeek, Adeniji Damilare, Nurudeen Akinola, Mubarak Yekeen.
- Others include Adedeji Ayobami, Alani Samuel, Ogundele Yunus, Adekunle Ibrahim, Adewale Azeez, Rufai Faruk, Fawaz Yekeen, Olade Abdullahi, Ahmed Murtala, Adisa Habeebllahi Akorede, Adigun Timilehin, and Abdulfatai Ridwannullah.
How the Scheme Operated
The suspects allegedly lured victims by falsely claiming international affiliations with companies in Dubai, India, Indonesia, and Thailand. Investors were convinced to pay between $790 and $850 (approximately ₦1,462,000) as registration fees and for product purchases.
During the operation, some suspects were caught attending lectures on Ponzi scheme operations, disguised as network marketing sessions.
The EFCC recovered Q-Net application forms and several incriminating documents from the suspects. Once investigations are concluded, they will face legal proceedings in court.
