The Economic and Financial Crimes Commission (EFCC) has embarked on a 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.