Nigerian police arrest cryptocurrency CEO Brisk Capital on fraud charges
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Answer Nigerian police arrest cryptocurrency CEO Brisk Capital on fraud charges
Nigerian authorities have arrested the CEO of Brisk Capital Limited in Lagos after accusations of involvement in a multi-million dollar scam based on alleged cryptocurrency and foreign exchange (forex) investments.
Dominic Joshua is believed to have transferred more than 2 billion naira ($4.84 million) from his investors which he allegedly promised returns of up to 60 per cent, according to to source.
Joshua is accused of promoting an investment scheme that was supposed to invest money in bitcoin, forex, real estate, and oil and gas.
However, the police decided to open an investigation against the 21-year-old after filing complaints with the Nigeria Police Force’s Special Fraud Unit about the alleged victims.
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Anderson Bacol, commissioner in the Special Anti-fraud Unit, stated:
Some property/items purchased with transferred money have been recovered as documents while suspect will be charged in court once Judicial Personnel Union of Nigeria (JUSUN) strike is called off
In addition, it has been confirmed that the fraudster confessed to the crime against him.
However, the CEO of “Brisk Capital Limited” requested that more time be given to return the money to the victims.
Bakul highlighted that the money transferred came from about 500 investors who funded the extravagant lifestyle of fraudster Joshua.
This included hosting parties and owning real estate in cities such as Abuja, Lagos and Port Harcourt.
Brisk Capital CEO awaits further legal action:
It is not known yet the next step for “Joshua” in terms of legal procedures, especially after requesting additional time to return the funds.
In addition, Commissioner Bankul warned Nigerians to stay away from those schemes that promise significantly high returns on their investment.
Cryptocurrency scams in Nigeria are on the rise, as scammers take advantage of the overall performance of the cryptocurrency market when collecting data.
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According to the aforementioned source, most of the victims were brought from the “Instagram” platform.
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