Operatives of the Economic and Financial Crimes Commission (EFCC), Kaduna Zonal Directorate, have arrested 28 individuals suspected of operating a Ponzi scheme in Minna, Niger State.
According to the EFCC, the suspects were linked to fraudulent investment activities with a company known as Q-Net Ltd., which operated from a three-bedroom apartment in Al-Bishiri Estate, Minna.
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Victims were allegedly deceived into believing that Q-Net Ltd. was an international company with affiliates in Dubai, India, Indonesia, and Thailand. They were made to pay between $790 and $850 (approximately ₦1.46 million) as registration fees and for product purchases.
The suspects were reportedly attending lectures on Ponzi scheme operations, disguised as network marketing, when they were apprehended.
EFCC operatives recovered Q-Net application forms and other incriminating documents during the raid. The agency stated that investigations are ongoing, and the suspects will be charged to court upon completion of the inquiry.
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