He was arrested following petitions to the Unit by several investors and verified intelligence gathered on the activities of the duo which is evident in their Banking Records.
Mr. Dominic Joshua, a 21-year-old native of Ebonyi State operates from Uyo, the Akwa-Ibom State capital. He 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 manage funds for individuals and companies.
Victims were conned 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 guarantee of the invested principal.
The funds, which belongs to over 500 investors was diverted to sponsor extravagant lifestyle, parties, exotic cars, luxury watches, Real Estates in Abuja, Lagos and Port-Harcourt.
The suspect confessed to the crime but pleaded to be given time to return the monies.
Some of the properties/items purchased with the diverted funds has 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 Unit, CP. Anderson A. Bankole advised the public to be wary of Investment/Portfolio Managers that suspiciously promised very high returns. He offers the services of the Unit to use the existing synergy between the Unit and relevant regulatory bodies, to provide credible information to genuine prospective investors who approach the Unit for background checks.
The CP promised that the Unit will not relent in its efforts towards bringing fraudsters that are giving the country a bad name to book.
