Centre For Anti-Corruption Research and Studies, CFARS of Nigeria has dragged the management of a popular commercial bank to the office of the Economic and Financial Crime Commission, EFCC over an alleged N500million investors fund trapped in a ponzi scheme account.
The investors under the aegis of Concerned Victims of CSTC Project reported their plight to the office of the foremost Anti Corruption Crusader, CFARS under the leadership of Dr. Caxton Olabode Olawoye after all entreaties to the bank failed.
Recommended articles
- Abuja sex therapist, Cecilia Agu, remanded over N275mln internet scam
- IGP orders Dapo Abiodun, Yemi Sanusi, APC probe over vote buying, attempted murder (Screenshots)
- Breaking News: Akpabio emerges new senate president
- Buhari cancelled benefit to Abiola family despite GCFR recognition
- Enugu: Man allegedly beats wife to death for not having male child
- Emefiele may have sponsored Peter Obi’s election – Apapa’s faction fires labour party for tackling Tinubu
According to a source, the information and evidence gathered from both the investors and the CFARS Officials alleged the bank’s complicity on the matter.
According to the petition written by CFARS to the EFCC detailed how over 200,000 innocent Nigerian were lured into investing in a company known as CSTC Mines promoting a Ponzi Scheme.
The Ponzi Schemers used an account with the bank opened in the company’s name to fraudulently swindle the entire 200,000 investors that keyed to the scheme.
Investors are claiming that it was the bank’s reputation gave credence to the scheme and efforts to get help from the bank to get refund for their trapped funds has proved abortive.
On the matter of complicity,the investors said their fear was heightened by bank’s lackluster and lackadaisical attitude towards their plight.
And as at the time CFARS dragged the commercial bank to the EFCC Lagos Headquarters, the bank has refused to reveal or disclose the identities of the operators of the controversial CTSC Mine Account.
Ojelabi, the publisher of Freelanews, is an award winning and professionally trained mass communicator, who writes ruthlessly about pop culture, religion, politics and entertainment.
