The Economic and Financial Crimes Commission, EFCC, Ibadan zonal office has arrested one Ayodele Saheed Olaniyi, for allegedly defrauding unsuspecting investors in a phoney\u00a0N343,880,000 (Three Hundred and Forty Three Million, Eight Hundred and Eighty Thousand Naira)\u00a0investment scam.
\nA statement by the Acting Head of EFCC’s Media and Publicity Unit, Mr. Tony Orilade said Olaniyi\u2019s arrest followed a petition to the EFCC in February, which was investigated by EFCC operatives. The petition had alleged that Olaniyi duped 89 persons collecting money from them at various times amounting to N343,880,000.
\nThe EFCC statement reads further: Olaniyi was said to have persuaded his victims into investing in a network structure called \u201cBeerbanc Traders\u2019 Network\u201d,\u00a0in which the participants would pool resources together to establish a beer retailing business.
\nThe proceed was expected to be shared every month among the investors and the purported coordinating company.
\nBut 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.
\nInvestigations 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.
\nIt was also established that the company under which Olaniyi was operating the business was not registered with the Central Bank of Nigeria as a financial institution.
\nAfter 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.
\nHowever, 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.
\nHe claimed to be suffering from Hepatitis B in a bid to secure his release on health ground.
\nHowever, a medical laboratory test conducted on him established that he was not infected as he claimed.
\nHe will soon be charged to court.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Economic and Financial Crimes Commission, EFCC, Ibadan zonal office has arrested one Ayodele Saheed Olaniyi, for allegedly defrauding unsuspecting investors in a phoney\u00a0N343,880,000 (Three Hundred and Forty Three Million, Eight Hundred and Eighty Thousand Naira)\u00a0investment scam. A statement by the Acting Head of EFCC’s Media and Publicity Unit, Mr. Tony Orilade said Olaniyi\u2019s arrest […]<\/p>\n","protected":false},"author":7,"featured_media":16446,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-16445","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news"],"_links":{"self":[{"href":"https:\/\/everyday.ng\/index.php?rest_route=\/wp\/v2\/posts\/16445","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/everyday.ng\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/everyday.ng\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/everyday.ng\/index.php?rest_route=\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/everyday.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16445"}],"version-history":[{"count":0,"href":"https:\/\/everyday.ng\/index.php?rest_route=\/wp\/v2\/posts\/16445\/revisions"}],"wp:attachment":[{"href":"https:\/\/everyday.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/everyday.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16445"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/everyday.ng\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}