Abuja High Court convicts man for defrauding U.S.-based NGO of over $71,000
The Economic and Financial Crimes Commission (EFCC) has convicted Dennis Tamarakuro for stealing $71,795.41 from a U.S.-based charity, Pregnancy Support Network. Justice Emeka Nwite of the Federal High Court in Maitama, Abuja, delivered the judgment after Tamarakuro pleaded guilty to a single charge of cybercrime. In December 2024, he pretended to be Keisha Reynolds, a […]
Nigeria deports 42 Chinese and Philippine nationals convicted of cybercrimes and ponzi schemes
The Nigerian Immigration Service has begun deporting 42 out of 192 Chinese and Philippine nationals convicted for cybercrime and Ponzi scheme offences. The first group of deportees was flown out of Nigeria on Sunday, August 17. They were part of 759 people arrested during a major raid on December 10, 2023, at Oyin Jolayemi Street, […]
EFCC arraigns ponzi scheme director, Precious Williams, for alleged N13.8 billion fraud in Port Harcourt
The Economic and Financial Crimes Commission (EFCC) in Port Harcourt has taken Precious Williams to court over claims that she took part in a large fraud and money laundering scheme. Williams, who leads Glossolalia Nigeria Ltd and Pelenged Nigeria Ltd, appeared before Justice S.I. Mark at the Federal High Court in Port Harcourt on Monday, […]
EFCC arrests 133 suspects in Abuja Ponzi Scheme Academy raid
The Economic and Financial Crimes Commission (EFCC) has uncovered a Ponzi scheme training center in the Gwagwalada area of Abuja. The center, known as Q University or Q-Net, was recruiting young Nigerians and training them to bring more people into the scheme. The anti-graft agency arrested 133 people involved in the program on Monday, March […]
EFCC alerts Nigerians on 58 illegal Ponzi scheme operators
The Economic and Financial Crimes Commission (EFCC) has issued a warning about 58 companies allegedly running illegal Ponzi schemes in Nigeria. These companies promise high returns on investments but are actually scamming people out of their money. The EFCC is urging Nigerians to be cautious and avoid falling victim to these fraudulent schemes. A Ponzi […]
EFCC Explains Raid on Enugu Radio Station Over Alleged N700m Ponzi Scheme
The Economic and Financial Crimes Commission (EFCC) has revealed why it raided Urban 94.5 FM, a private radio station in Enugu State, on the night of Monday, October 14, 2024. The operation led to the arrest of a presenter, Favour Ekoh, and three other staff members, amid allegations of involvement in a N700 million Ponzi […]