Ponzi Scheme: Drama as widow who lost N2.9million, others storm Benue Police Command in protest [VIDEO]

There was outrage at the Benue State Police Command on Tuesday as some participants of a Ponzi Scheme stormed the station to lay ‘formal’ complaints.

The participants were reportedly defrauded by one Philemon Ibrahim, who is a guider of Ponzi scheme, Global Funds International.

Ibrahim was arrested at St. Theresa’s Catholic Church, the alleged venue of the illicit money doubling scam.
He is currently being interrogated by the police after several complaints.
A widow, Mrs. Dauda Maiduguri, told Channels Television how she was defrauded N2.9 million by the suspect.
She said, “I and my siblings and some other members of my family invested N2.9m into the cash flow account and since then, we have lost contact with him.”

Another victim, Samuel Shika narrates how he lost his entire investment without getting any promised profit.
He said, “We were told if you pay N10, 000, they will give you N20, 000, so I was moved to also get something out of it.
“We are here with the hope of getting our money after a failed Ponzi scheme.”
The alleged suspect however did not deny collecting money from the complainants.

In his narration, he blamed the Economic and Financial Crimes Commission, EFCC, for freezing his accounts and making his business suffer.
Ibrahim said, “I am not a criminal and I don’t intend to become one until I am proven to be one. Even when I was called by the police, I only needed to be given an opportunity to prove myself…”
The state Commissioner of Police, CP, Bashir Makama, after listening to their complaints, warned against such practices.
He advised Nigerians not to involve themselves in such ‘get rich quick’ means of getting money.
He said, “You can’t sit down in your house and someone will say bring N10, 000 and I give you N20, 000. From where is he getting the extra 10?
“So it is your greed that is leading you to all these. Now you have all converged here, what are you expecting?” he asked rhetorically.
Speaking further, he said, “We cannot do more than we have done here.
“If he cannot pay all of you, he goes to court,” he added.
DAILY POST recalls that Nigerians have been warned against indulging in such money doubling schemes.

The warnings came after Mavrodi Mondial Movement, MMM Nigeria froze accounts of all participants, but resumed operations after one month.
The Central Bank of Nigeria, CBN, warned Nigerians to be wary of it, insisting it is fraudulent.