Businessman Offering 60% ROI Arrested Over N2bn Investment Fraud

Operatives of the Police Special Fraud Unit (PSFU) have arrested the Managing Director of Brisk Capital Limited, Dominic Ngene Joshua, for allegedly diverting investors’ funds worth over N2 billion.

Joshua was accused of conning individuals to invest in Bitcoin, forex trading, real estate, and oil & 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.

In a statement issued on Monday, the police SFU announced that Joshua was arrested in Uyo, Akwa Ibom state capital where he operates the investment from.

The statement added that the 21-year-old indigene of Ebonyi State lures victims on social media platforms such as Instagram, Facebook, and LinkedIn, as well as via newspaper publications where he claimed to be 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, 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 book.