Nigeria’s special fraud unit, arrests Dominic Joshua Ngene for allegedly defrauding investors to tune of N2 billion in a 60% ROI Ponzi Scheme

A young man in the name, Dominic Joshua Ngene, had been arrested for running Brisk Capital, Ponzi Scheme that must have allegedly defrauded investors to the tune of N2 billion.

According to the Special Fraud Unit, SFU, Dominic’s Brisk Capital Limited allegedly ran an investment scam that promised investors up to 60% return on investment by claiming he was investing the deposits in real estate, forex and oil and gas.

On its website which looks more or less like a copied and pasted content from other unknown websites, the company said:

We are inspired from the variety of demands present in the African continent and the need to create possiblities based on proven potentials to facilitate innovation.

BRISK CAPITAL is a visionary group of companies with an ecosystem that identifies opportunities in the African Market, create solutions and provide for the growing needs of the African Continent.

We are inspired from the variety of demands present in the African continent and the need to create possiblities based on proven potentials to facilitate innovation and yielding results.

We believe in the economy of ideas and the power of decisions in driving solutions across the continent as well as fulfilling market demands on a broad spectrum in every relevant industry.

Despite all the red flags, it is very interesting that many investors went ahead to invest in Dominic Joshua’s Brisk Capital.

For example, on his LinkedIn page, he claimed he was 21 years old. However, on his bio, he claimed he had about 11 years experience in investment banking without providing any proof or experience timelines and work experience to back it up.

A further digging showed that Dominic Joshua was one of the ‘philanthropist’ who supported injured victims of last year’s ENDSARS protest.

In an article published on the Guardian, his company through the:

“Dominic Joshua Foundation has donated the sum of N500,000 to offset bills of injured victims of the Lekki toll gate shooting during #EndSARS protests in Lagos.”

“Investment banker and Founder, Dominic Joshua Foundation, Dominic Joshua, said the gesture was in line with the foundation’s commitment to carry out philanthropic outreaches to assist victims during crisis.”

“Specifically, he said the fund was to offset medical bills and other supplies to help hasten the injured victims’ recovery.”

“He described the incident as an unfortunate event that should never have occurred, especially in a peaceful protest where the youth were demanding an end to police brutality and good governance. Announcing the donation, he said the cash gift was given to organisations on the frontline of the nationwide protest.”

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