Police Bust Fake CBN Investment Scheme

Friday, February05, 2021 05:29PM / by CBN/Header Image Credit: Premium Times Nigeria

...Spokesmanwarns Nigerians to beware of fraudsters

ThePolice in Lagos, in a joint operation with the Edo State Command, have nabbedthe mastermind behind the syndicate group, comprising over ten fraud groupsimpersonating the Central Bank of Nigeria (CBN), under the name "CBN HelpingHands Investment Scheme," to defraud unsuspecting members of the public.

Therecent arrest of the head of the syndicate, Solomon Osiga Ezemede (operatingwith aliases: Musa Mukarat and Solomon Musa) along with his cohorts, in Auchi,Edo State, followed a formal report to the police by the CBN, stating that the grouphad severally impersonated management and staff of the Bank and deceived somemembers of the public to invest money with the CBN, with a promise to doublethe amount invested within 24 hours.

Thesyndicate reportedly carried out its fraudulent acts on fake CBN Facebookaccounts, fictitious mobile numbers, fake online profiles and paid testimonialsto induce unsuspecting members of the public into paying money into numerousbanks accounts.

Policesources disclosed that many digital assets seized from the syndicates arecurrently being subjected to forensic analysis by the cyber intelligence unitsof the Nigeria Police and the CBN.

Meanwhile,the suspect, Solomon Ezemede, who was charged to the Magistrate's Court inEbute Metta, Lagos, on a four-count charge of conspiracy, obtaining money byfalse pretense, fraudulent act and stealing, on December 30, 2020, has beenremanded in prison. The case is billed for trial on March 3, 2021.

Confirmingthe report made by the CBN to the police, the Acting Director, CorporateCommunications Department, Mr. Osita Nwanisobi, said the move was necessary becausethe syndicate had succeeded in defrauding many victims, using the logo, seal,general signage and brand of the CBN.

Accordingto him, complaints received by the Bank bordered largely on funds lost tofraudsters who claimed to be agents of the CBN seeking to assist them obtainloans from the CBN.

Whileemphasizing that the CBN does not engage individuals to act as agents on itsbehalf for the coordination of its intervention programmes, Mr. Nwanisobi cautioned members of the publicto be wary of fraudsters, who parade themselves as staff or agents of the Bankto swindle them. He also advised members of the public to report suspectedcases of fraud to the nearest police station in order to checkmate theactivities of fraudsters. He furtherwarned those engaged in perpetrating fraud in the name of the Bank to desistfrom such nefarious acts as security agencies had been adequately briefed tocheckmate such fraudulent activities.