Bitcoin: 21-year-old Nigerian defrauds 500 investors of N2 billion
The Special Fraud Unit says it has nabbed a 21-year-old Nigerian for defrauding bitcoin investors of N2 billion.
A statement signed by the SFU spokesman, Eyitayo Johnson, said the suspect, Dominic Ngene Joshua, the MD/CEO of Brisk Capital Limited, diverted investors’ funds worth over N2 billion.
Mr Joshua was arrested following petitions to the SFU by several investors.
“Mr Dominic Joshua, a 21-year-old native of Ebonyi state, operates from Uyo. From there, he used to lure his victims on Social Media platforms such as Instagram, Facebook, and LinkedIn as well as via newspaper publications.
“There, he usually claimed to be a financial investor of repute that manages funds for individuals and companies.
“Victims were conned to invest in bitcoin, forex trading, real estate, and oil and gas with a promise of prompt and accurate 60 per cent return on investment per month on every sum invested, plus a guarantee of the invested principal,” said the SFU.
According to Mr Johnson, funds that belonged to over 500 investors were diverted by the suspect to sponsor extravagant lifestyles, parties, buying exotic cars, luxury watches, real estates in Abuja, Lagos, and Port Harcourt.
The SFU spokesman added that the suspect confessed to the crime but pleaded for time to return the funds.
Mr Johnson said some of the property purchased with the diverted funds had been recovered as exhibits. He also revealed that the suspect would be charged to court soon.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
States
Police nab four suspects for alleged child trafficking in Abia
Ms Chinaka said the suspects allegedly conspired to steal a four-day-old baby from her mentally unstable mother.Â
Agriculture
Enugu hires over 160 professionals to revive livestock production
Mr Ubru said the recruitment was in fulfilment of Governor Peter Mbah’s vision to revamp the agricultural sector.
Heading 2
Plateau government disburses N1.5 billion intervention funds to attack victims
Governor Caleb Mutfwang formally inaugurated the disbursement of the funds on Monday in Jos.
Heading 5
Don’t destroy APC like you did PDP, group warns Wike
Mr Wike has insisted that his major political priority remained securing the re-election of Mr Tinubu in 2027.Â
Heading 1
Atiku condemns Tinubu’s prolonged vacation abroad, says Nigeria can’t be governed on autopilotÂ
Mr Onanuga said that the president would return to the country at the weekend.Â
Economy
ECOWAS to honour 60 West African start-ups
The top three start-ups will receive $30,000, $20,000 and $15,000 respectively in seed funding.
