The Chief Executive Officer of Brisk Capital Limited (CEO), Dominic Joshua has reportedly been arrested for Two Billion Naira (N2bn) investment fraud by the special fraud unit of the Nigerian Police Force in Lagos.
The 21-year-old who is the CEO of the investment company that offers 60% returns on investment has been nabbed for allegedly diverting over N2 billion in investor funds.
Dominic was accused of wooing people to invest in Bitcoin, forex trading, real estate, and oil & gas with a promise of a 60% return on investment.
The 21-year-old CEO was arrested following the petition filed against him at the Police Unit by several investors and verified intelligence reports assembled on the activities of the company.
Speaking about the case, the Commissioner of Police in charge of the fraud unit, Anderson Bankole, disclosed that the funds which belong to over 500 people that invested with Dominic were diverted to sponsor extravagant lifestyle, parties, exotic cars, luxury watches and real estates in Abuja, Lagos and Port Harcourt.
He also said that Dominic has confessed to the crime but pleaded to be given time to return the investors’ monies.
Speaking further, the commissioner, noted that some of the properties/items purchased with the diverted investors’ funds have been recovered as exhibits while the suspect will be charged to court as soon as the Judiciary Staff Union of Nigeria (JUSUN) is called off their strike.
The commissioner, however, advised the general public to be wary of investment/portfolio managers that promise very high returns on investments as it could turn out to be a fraud.