21-year-old man arrested for defrauding 500 investors of N2bn

The Managing Director/Chief Executive Officer, Brisk Capital Limited, Joshua Dominic, has been apprehended by police officials of the Special Fraud Unit in Lagos State for supposedly defrauding over 500 investors of over N2bn.

Top Naija learnt that the 21-year-old Dominic was arrested after petitions to the unit by multiple investors and confirmed intelligence gathered on his deeds, which were affirmed by banking records.

The representative for the Special Fraud Unit, DSP Eyitayo Johnson, disclosed in a statement on Tuesday that Dominic, a native of Ebonyi State, was working from Uyo, Akwa Ibom State.

Johnson further said that Dominic often attracted his victims on social media platforms such as Instagram, Facebook and Linkedin and also through newspaper publications, professing to be a financial investor, who oversees funds for people and companies.

He added that Dominic admitted to the crime, stating that the Commissioner of Police in charge of the Special Fraud Unit, Anderson Bankole, urged public members to be cautious of investment/portfolio managers, who deviously guarantee them significant profits.

The statement partly read, “The Special Fraud Unit, Lagos, has arrested the MD/CEO of Brisk Capital Limited, Mr Joshua Dominic, for allegedly diverting investors’ funds worth over N2bn.

“The victims were conned into investing in Bitcoin, forex trading, real estate and oil and gas with the promise of prompt and accurate 60 per cent return on investment per month on every sum invested, plus the guarantee of the invested principal.

“The funds, which belonged to over 500 investors, were diverted to sponsor extravagant lifestyles, parties, exotic cars, luxury watches and real estates in Abuja, Lagos and Port Harcourt. The suspect confessed to the crime, but pleaded to be given time to return the money.

“Some of the properties/items purchased with the diverted funds have been recovered as exhibits, while the suspects will be arraigned before the Federal High Court as soon as the strike by the Judiciary Staff Union of Nigeria is called off.

“The Commissioner of Police in charge of the unit, Anderson A. Bankole, advised members of the public to be wary of investment/portfolio managers, who promise very suspiciously high returns.

“He offers the services of the unit to use the existing synergy between the unit and relevant regulatory bodies to provide credible information to genuine prospective investors, who approach it for background checks.

“The CP promised that the unit would not relent in its efforts to bring fraudsters, who are giving the country a bad name, to justice.”