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Posted by Samuel on Tue 15th Oct, 2019 - tori.ng

Four men who ran a ponzi scheme have been nabbed and arraigned by the Economic and Financial Crimes Commission.

ponzi scheme operators arraigned

Ponzi scheme operators arraigned

The EFCC, Kano Zonal Office today, October 15, 2019, arraigned a business concern, MGB Global Markets LTD and three of the promoters: Muhammadu Garba Bichi, Iliyasu Garba and Umar Iliyasu Garba.

They were arraigned before Justice O.A Egwuatu of the Federal High Court 2 Kano State on a six count charge bordering on Advance Fee Fraud and Other Fraud Related Offences Act, 2006.

The Suspects ran into trouble after EFCC received a complaint on alleged fraudulent forex trading by MGB Global Markets Limited located at Sabo Bakin Zuwo Road Tarauni, Kano.

ponzi scheme operators arraigned