The Economic and Financial Crimes Commission has arrested the owner of an online investment platform, Students Wallets, Johnson Agene, for allegedly defrauding unsuspecting members of the public.
PUNCH Metro gathered that Agene allegedly lured many students to invest for a period of time, promising them a certain amount as return on their investment.
Our correspondent learnt that the defendant allegedly stopped operations in January without paying the victims.
A source said many of the victims could not pay their school fees, which they invested in the scheme.
He said, “The platform allowed people to invest a maximum of N60,000 in a single account and an option of multiple accounts per individual with the promise of a daily interest of one per cent on investment.”
“In January, he shut down his operations, leaving most of his investors stranded. He later made a post that anyone who wished to close his or her account should send details to an email he provided online. People who got the information did so; he later posted again that he would start payment from June to July and that he used the money to invest.”
“But 80 per cent of the affected people were students from various institutions; most students deferred their admissions, semesters and sessions, while others were forced to live and squat with friends. This year, a university in Benue State recorded the slowest rate of tuition fees with students owing millions of naira all because of Johnson Agene.”
The source noted that the case was reported to the EFCC and the suspect was arrested in Lagos three weeks ago.
Our correspondent learnt that Agene was arraigned before the Federal High Court in Makurdi last Friday on charges bordering on fraud and obtaining by false pretences.
@ Punch Newspaper