The head of Brisk Capital Limited, a major African investment company, was apprehended by Nigerian authorities after being accused of being the main lead in a scam that has defrauded millions out of investors. The scam was based on crypto and FX investments.
The perp, 21-year old Dominic Joshua, has taken around $4.84 million or 2 billion nairas from investors, after promising them returns of up to 60%. The head of the scam is now accused of leading an investment scheme that aimed to direct money into FX, real estate, Bitcoin, gas, and oil.
The commissioner of the Special Fraud Unit, Anderson Bakole, told the press that Joshua had confessed to the crimes. Moreover, Joshua asked the victims of his scam to wait and give his company time to return the money back. Some 500 investors were scammed, who, in the words of the commissioner, have helped fund the “extravagant lifestyle” of the CEO of Brisk Capital Limited, including parties and luxurious properties in cities around Nigeria.
For now, we do not know what follows for Joshua. The ongoing legal proceedings are undisclosed and might be delayed due to the ongoing refund procedure.
Meanwhile, Bankole warned Nigerians to be careful of investment schemes, especially those promising unrealistic high returns.