Brisk Capital MD arrested over N2bn investment fraud

Brisk Capital MD arrested over N2bn investment fraud after promising to give back ‘60% returns on investment to his clients.

The operatives of the police special fraud unit (PSFU) have arrested the managing director of Brisk Capital Limited, Dominic Ngene Joshua, for allegedly stealing investors’ funds worth  more than N2 billion.

Joshua was accused of duping individuals to invest in Bitcoin, forex trading, real estate and oil & gas with a promise of fast and accurate 60% return on investment (ROI) monthly on every amount invested, plus guarantee of the invested principal.

The police SFU announced his arrest in a statement issued on Monday, the 24th of May, 2021.

Joshua is a 21-year-old  indigene of Ebonyi state, and he operates the investment firm from Uyo, Akwa Ibom state capital.

According to statements from the police, Joshua lures victims on social media platforms such as Instagram, Facebook and LinkedIn, as well as via newspaper publications where he claimed to be a reputable financial investor that manages funds for individuals and companies.

The police said Joshua has confessed to  being guilty of the crime but pleaded to be given some time to refund the money.

“The funds, which belong to over 500 investors, were diverted to sponsor extravagant lifestyle, parties, exotic cars, luxury watches, real estates in Abuja, Lagos and Port-Harcourt,” the statement read.

“Some of the properties/items purchased with the diverted funds have been recovered as exhibits while the suspects will be charged to the Federal High Court as soon as the strike by Judiciary Staff Union of Nigeria (JUSUN) is called-off.”

The commissioner of Police in charge of the SFU, Mr Anderson Bankole, , advised the public to be wary of investment and portfolio managers that suspiciously promise very high returns in a short period of time.

He further noted that the SFU was willing to provide credible information to genuine prospective investors who approach the unit for background checks.

Bankole gave the assurance the unit will not compromise in its efforts towards bringing fraudsters that are giving the country a bad name to justice.

It is no news that Nigerians have been victims of various Ponzi schemes, so we must be very careful.

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