A young Nigerian who claims to be an "investment expert" has been arrested for allegedly diverting investors’ funds worth over N2 billion.
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21-year-old Dominic Ngene Joshua, the Managing Director/Chief Executive Officer of Brisk Capital Limited, was arrested by the Special Fraud Unit, Lagos.
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Dominic was arrested following petitions to the unit by several investors.
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Joshua, who is from Ebonyi State but operates from Uyo, Akwa Ibom State, reportedly lures his victims via social media platforms and newspaper publications, by claiming to be a financial investor who manages funds for individuals and companies.
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He deceived victims to invest money in Bitcoin, FOREX trading, real estate and oil and gas, with a promise of 60% Return On Investment per month on every fund invested.
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However, funds belonging to over 500 investors were allegedly diverted to sponsor Joshua's extravagant lifestyle, exotic cars, luxury watches, real estates in Lagos, Abuja and Port Harcourt.
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According to the Special Fraud Unit (SFU), the suspect has confessed to the crime, but pleaded to be given time to return the funds.
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The SFU said some of the properties and items purchased with the diverted funds have been recovered from him, and he will be charged at the Federal High Court soon.
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Only months ago, Dominic Ngene Joshua, was featured in a business publication and a glowing piece was written about him. He was referred to as a "disruptor in the investment banking industry".
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The article has now been taken down following his arrest.
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