Ponzi Scheme Crackdown: EFCC Nabs 133 Suspects in Abuja

Following a search on a Ponzi scheme academy in Abuja on Monday, 133 individuals were taken into custody by EFCC agents.

Dele Oyewale, the EFCC spokesperson, confirmed the operation in a statement on Monday.

According to Oyewale, the suspects were captured at the Compensation Layout in Gwagwalada, Abuja, following the acquisition of useful information regarding the operations of the academy.

“Q University, often called Q-Net, was an academy that enticed young Nigerians with the promise of unattainable earnings.

Under the motto “Special Training for New Generation Billionaire,” the recruits received training on how to further recruit others.

By completing a “Independent Representative Application Form” featuring marketing slogans like “I’m a Champion,” “I’m Unstoppable,” and “I’m Infinity,” the suspects joined the scam.

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Officers from the Nigerian Army’s 176 Guards Battalion worked with the EFCC to carry out the operation.

Phones, computers, and other electronic devices were among the goods taken from the accused, he said.

Following the conclusion of the investigations, the suspects will face charges in court. (Nan)