Police in Lagos have arrested the managing director/chief executive officer of Brisk Capital Limited Dominic Joshua for allegedly diverting over N2 billion in investor funds.
Mr Joshua, 21, was arrested by the police special fraud unit in Lagos following petitions from some of the investors he allegedly scammed in cash and cryptocurrency trading.
The tech company boss allegedly promised investors 60 percent return on investments in real estate, forex, oil and gas.
Police alleged that the Ebonyi native got his clients from social media like Facebook, Instagram, LinkedIn and newspaper posts.
In a statement, head of the fraud unit Anderson Bankole said the allegedly diverted funds belong to over 500 investors.
He further alleged that the funds were diverted to sponsor extravagant lifestyle, parties, exotic cars, luxury watches and real estates in Abuja, Lagos and Port Harcourt.
“Some of the properties/items purchased with the diverted funds have been recovered as exhibits while the suspect will be charged to court as soon as the strike by Judiciary Staff Union of Nigeria (JUSUN) is called off,” Mr Bankole said.
He also alleged that Joshua confessed to the crime but pleaded to be given time to return the funds.
The commissioner also advised the public to be wary of investment/portfolio managers that promise very high returns on investments.
