– Two suspected Ponzi scheme operators in Kano have been arrested by the EFCC
– Reports claimed that they were operating it under the name, MGB Global Market
– Laptops, desktops, POS machines, tokens and other documents were recovered during the commission operation
The Economic and Financial Crimes Commission, EFCC, has arrested the duo of Garba Iliyasu and Umar Iliyasu who are suspected to be running a Ponzi scheme in Kano under the name, MGB Global Market.
Their arrest was sequel to intelligence that the organisation had lured many citizens to ‘invest’ in the bogus scheme using irresistible promise of returns on investment of up to 50 percent in two weeks as bait.
Upon receipt of the intelligence, the commission stormed the office of MGB Global located at Sabo Bakin Zuwo Road, opposite ConOil, Tarauni Local Government Area of Kano State and arrested Garba Iliyasu and Umar Iliyasu alongside 16 other employees of the outfit.
READ ALSO: Lagos Community Lauds Sanwo-Olu Over Sanitation
The employees were subsequently released. The commission said in a statement made available to Vanguard yesterday that during the operation, laptops, desktops, POS machines, tokens and other documents were recovered.
The statement signed by EFCC Spokesman, Wilson Uwujaren said that one Mohammed Garba Iliyasu described as the managing director of the suspicious firm with two of his brothers, whose names were given as Abubakar Garba Iliyasu and Ibrahim Garba Iliyasu, who are also part of the scheme, are equally on the run.
Nigeria army arrests dozens for electoral offences(Opens in a new browser tab) “On September 5, 2019, operatives of the EFCC executed a search on the family house of the suspects in Hotoro Area of Kano State and made startling discovery of prohibited firearms, live ammunition and several other incriminating documents.
PAY ATTENTION: Like our Facebook page to stay connected to us
One of the suspects is allegedly building a 6-bedroom duplex at the same Hotoro with funds which are believed to be proceeds of the Ponzi Scheme. “The Commission once again, warn the general public to desist from patronizing get rich schemes like MGB Global.”
Advertise or Publish a Story on EkoHot Blog:
Kindly contact us at [email protected]. Breaking stories should be sent to the above email and substantiated with pictorial evidence.
Citizen journalists will receive a token as data incentive.
Call or Whatsapp: 0803 561 7233, 0703 414 5611
