EFCC begins war against Ponzi scheme operators
The Economic and Financial Crimes Commission (EFCC) has kicked off raid against Ponzi Scheme operators.
This was contained in a statement by Ayo Oyewole, the Head of Public Affairs, Ibadan Zonal Office of the EFCC, on Thursday.
Oyewole said the suspects had volunteered useful information to the operatives of the commission in their quest to unravel the extent of their illegal activities.
He said the operators allegedly gave loans to innocent and unsuspecting members of the public who register with them after 10 per cent deposit of the total loans sum and charge 15 per cent to 20 per cent interest on all the loans granted.
Oyewole disclosed that the commission also gathered that these companies had branches with thousands of customers spread across Oyo, Lagos, Ogun, Ondo, Kwara states.
He said several copies of hand flyers for advertisement of activities of the Ponzi scheme operators and laptops were recovered from them at the point of arrest.
Oyewole stated that the suspects would be charged to court as soon as investigation was concluded and a prima facie case was established against them.
