An undergraduate student of University of Illorin, UNILORIN has taken his own life.
It was gathered that the 300-level student of the Department of
Agriculture, University of Ilorin, UNILORIN, Gbenga Favour Olaoye-Akanbi
committed suicide after he was allegedly duped by a forex trader, Eseka
Chuckwutem Gospel (ESG).
According to a report by SaharaReporters, Olaoye-Akanbi was
discovered dead on Sunday after consuming a substance suspected to be
poison.
The 19-year-old student was said to have invested over N300 million
belonging to his colleagues and friends in a business run by ESG.
A friend of the deceased and an investor with the firm explained how they were duped.
He said,
“The investment is forex. The guy’s name is Eseka Chuckwutem
Gospel. We started the investment together this year. It seems he
stopped trading, so he turned indirectly to a Ponzi scheme without the
knowledge of those investing.
“He has a particular group. Most people in that group collected
money from other people to invest in his business. The late Gbenga
collected money from different people to invest with ESG at a certain
percentage.
“Later on, the investment crashed, and the guy was arrested.
With the help of some senior police officials, he was released. So over
time, people that were with ESG as investors( they had borrowed money to
invest) were now being pressurized to repay the loan they took. I am
one of the investors, too; we were under a lot of pressure to pay up. So
I think because of this guy’s age, he is just 19-year-old, he couldn’t
withstand the pressure and committed suicide.”
A course mate of the deceased said he assured them that forex is
not a Ponzi scheme and that he had back up funds, much enough to pay
every one of his investors their capital and profits even if things went
wrong.
“It’s so sad; I have over N5m investment deal with him. He
claimed to be the one doing the trading initially, but when the problem
started around June, he started mentioning one Eseka Chuckwutem Gospel
as his boss. He told us they were arrested together, but that our money
was safe with him.
He later promised to pay everyone’s capital before December. I
was surprised when I saw people posting his pictures with RIP today,” he said
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