0 C
Lagos, NG
4th October 2022
LOCAL NEWS

EFCC Nabs one Ayodele Olaniyi  for N343.8m Investment Scam

EFCC Nabs one Ayodele Olaniyi  for N343.8m Investment Scam
EFCC Nabs one Ayodele Olaniyi  for N343.8m Investment Scam

The Economic and Financial Crimes Commission, (EFCC), Ibadan zonal office has arrested one Ayodele Olaniyi, for allegedly defrauding unsuspecting investors in a phoney N343,880,000 (Three Hundred and Forty Three Million, Eight Hundred and Eighty Thousand Naira) investment scam.

According to EFCC, Olaniyi’s arrest followed a petition to the EFCC in February, which was investigated by EFCC operatives. The petition had alleged that Ayodele  Olaniyi duped 89 persons collecting money from them at various times amounting to N343,880,000.

Ayodele Olaniyi was said to have persuaded his victims into investing in a network structure called “Beerbanc Traders’ Network”, in which the participants would pool resources together to establish a beer retailing business.

The proceed was expected to be shared every month among the investors and the purported coordinating company.

But rather than bring succour, Olaniyi accentuated their frustration as they neither received a dime as profit on their investment since October 2018, nor did they get their invested money back.

Investigations into the petition revealed that the suspect was operating eight different accounts through which he enlisted 114 people into the phoney scheme. It was also established that a sum of N396.5 million found in the accounts were never invested in any business.

It was also established that the company under which Ayodele Olaniyi was operating the business was not registered with the Central Bank of Nigeria as a financial institution.

After taking his statement and conducting a search on his house and business address at Oluyole, Ibadan, he was granted administrative bail; he was however, unable to meet the terms.

However, having realised that it was game up, and that there was likelihood of him facing the consequence of his actions, Olaniyi tried playing a smart one on the Commission, as he feigned illness.

He claimed to be suffering from Hepatitis B in a bid to secure his release on health ground.

However, a medical laboratory test conducted on him established that he was not infected as he claimed.

He will soon be charged to court.

Related posts

Army rescues Sheik Suleiman,and 5 others

yellowdanfo

Bolanle Olukanni shares how she survived a ghastly motor accident

yellowdanfo

Hostage Rescue: U.S Thank Nigeria For Recovery Mission

yellowdanfo

NCDC, And Dettol Nigeria Distance Themselves From Funke Akindele

yellowdanfo

NCDC Reports 350 New Cases As Total Now 11,516

yellowdanfo

You have a case to answer,court tells ex-Gov Danjuma Goje

yellowdanfo

Petroleum Industry Act:- Buhari Approves Steering Group

yellowdanfo

Mo Abudu’s Castle&Castle Renewed For Season Two On Netflix

yellowdanfo

Ubi Franklin’s baby mama Siyo poses with their child Shiloh Langa

yellowdanfo

Maiduguri GSM Market Fire: Borno govt donates N60m to victims

yellowdanfo

Leave a Comment