EFCC Says N96 Million Returned to Enugu Ponzi Scheme Victims

The Economic and Financial Crimes Commission says it has handed over N96.5 million to victims of Ponzi schemes in Enugu. Its spokesperson, Dele Oyewale, said this in a statement on Friday.

Mr Oyewale said the step was in line with the anti-graft agency’s commitment to combating economic and financial crimes and ensuring restitution for victims of fraudulent schemes.

He said the commission received a petition, dated September 30, 2024, from one Chijioke Ngwu and others against one Oyubu Akpojewve, also known as Justice Nonso Chima, managing director, Leverage Index Limited.

Mr Oyewale said the petitioners alleged that Mr Akpojewve lured them into investing the said sum in a Ponzi scheme.

“He presented offers to prospective investors in two formats: what he called the Monthly Plan and another one called Live Trading. The Monthly Plan required that an investor transfer a minimum sum of N2.5 million or more to a UBA account number for the firm to use and trade in forex.

“After this, a monthly profit of N200,000.00, or eight per cent of the total money invested, is given to the investor, while the initial capital of N2.5 million or more is retained for further monthly trading if the investor so wishes.

“The Live Trading format is such that an investor transfers any amount of money to Leverage Index into the said account for a live trading session on a designated day for the firm to trade with on the same designated day and remit 10 per cent of the total sum transferred initially as profit to the investor the next day,” the petitioners said.

According to the petitioners, after investing the said sum, Mr Akpojewve, who presented himself as a registered forex trader, began making excuses bordering on disagreement with his trading partners, and before they knew it, he shut down his office and became unreachable.

Mr Oyewale said operatives of the commission swung into action and discovered that Mr Akpojewve conspired with his cohorts to defraud unsuspecting victims of their hard-earned money.

While handing over the recovered money to the victims, EFCC chairman Ola Olukoyede reiterated the commission’s readiness to combat economic and financial crimes.

Mr Olukayode said the EFCC would continue to ensure that fraudsters are denied the proceeds of their crimes and that victims recover their lost funds and properties.

Ukwu Ernest Ikechukwu, one of the victims of Mr Akpojewve, who received a N19.9 million draft, commended the anti-graft agency for its level of professionalism and integrity in discharging its duties.

Another recipient of the recovered funds, Ikechukwu Ogbunubi, who received N10 million, lauded the agency for its dogged efforts in recovering all the money.

Other recipients included Temple Lewis Maduka, who got N7.5 million; Ngwu A, who got N19.4 million; and Alphonsus Umeh, who received N7 million.

(NAN)