Operatives of the Economic and Financial Crimes Commission (EFCC) have raided a Ponzi Scheme Academy in Abuja, arresting 133 suspects in the process.
According to EFCC, they were apprehended at the Compensation Layout in Gwagwalada area of the Federal Capital Territory (FCT), Abuja, on Monday, March 24, following actionable intelligence on the existence of the Academy.
“The Academy, named Q University (a.k.a Q-Net) is in the business of recruiting gullible young Nigerians who are trained to recruit more gullible citizens into the scheme with the promise of getting unrealistic profit returns.
“The suspects are enrolled into a training codenamed: “Special Training for New Generation Billionaire” and brainwashed to believe that they would graduate into the league of billionaires,” the anti-corruption agency stated.
It revealed that the suspects got into the training by obtaining a form the promoters called “Independent Representative Application Form” with promotional slogans such as “I’m a Champion”, “I’m Unstoppable”, “I’m Infinity”, among others.
The Commission also noted that it carried out the operation in collaboration with officers and men of 176 Guards Battalion, Nigerian Army.
“Items recovered from the suspects include phones, computers and other electronic gadgets. They will be charged to court as soon as investigations are concluded,” EFCC added.
