Police arrests 21-year old ‘Yahoo Boy’ over N2bn fraud

Ilesanmi AdekanbiMay 25, 2021

0 1 minute read

The Special Fraud Unit (SFU) of the Nigerian Police in Lagos has arrested the Managing Director/Chief Executive Officer of Brisk Capital Limited, Dominic Ngene Joshua, following petitions from some of the investors he allegedly scammed.

The Ebonyi State indigene who will be arraigned as soon as the court reopens operated from Uyo, the Akwa Ibom State capital.

Security expert Nnamdi Chife, says he lured his victims via social media platforms such as Instagram, Facebook, and LinkedIn.

Investors were allegedly duped in cash and cryptocurrency trading.

He added that Joshua’s modus operandi was to promise investors 60 percent ROI (Return on Investments) in real estate, forex, oil and gas.

Commissioner of Police in charge of the fraud unit, Anderson Bankole, therefore, has advised the public to be wary of investment/portfolio managers that promise very high returns on investments.

Bankole adds that: “the funds which belong to over 500 investors was diverted to sponsor extravagant lifestyle, 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 monies. Some of the properties/items purchased with the diverted funds have been recovered as exhibits while the suspect will be charged to court as soon as the strike by Judiciary Staff Union of Nigeria (JUSUN) is called off”.