“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.”
PUNCH
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