A 21-year-old student of Federal University of Agriculture, Abeokuta, FUNAAB identified as Nwabuba Victor Ifeanyi has been arrested at the Muritala Mohammed Airport on Tuesday, February 4, 2020 while trying to flee the country for Dubai
The undergraduate of Chemistry department is alleged to have defrauded, students, lecturers, business owners, and parents within and outside of the University environs.
It was gathered that the suspect fondly referred to by the name of his investment plug, Vickson Multiconcept had at least 25 other forex traders acting as middle men to Vickson, unknown to their investors
According to reports, these middle men are solely aware of the financial gains of the trade and start their own enterprise but work as middle men with the suspect who is knowledgeable about the trade
With each trader having tons of investors made up of students who trade with their hostel and school fees, lecturers who trade with their salaries, yahoo boys who needed somewhere to hide fundsetc under their control, everything seemed alright at first
In a bid to gain more investors especially business men and women outside of the university, the suspect alongside his middle men promised a 20 percent return of investment every week, 35 percent ROI every month, turning the legit trade into a quick money trade
Tragedy struck when the suspect, Nwabuba Victor Ifeanyi opted to try out the sum of N11.3 billion on cyptocurrency/bitcoin trade in a bid to meet up with the outrageous return on investment promised, but got swindled and was left with N6bn
Panic soon set in as he soon started being in debt to investors who needed their money, prompting him to announce a break on the forex trade
Upon the announcement of a break, investors began to get worried as they are fully aware that there is never a break in forex trading
The case has since been escalated to the EFCC and officials of SARS who soon swung into action. The suspect explained that he intended to flee to Dubai over the mess. While middlemen have opted to sell their properties to pay investors back, the suspect has refused to reveal where the bulk of the money is as only a meagre N330m has been recovered from him.
Here is the list of some of the forex enterprises who have investors within and outside Nigeria but have shut down as they were middle men under Vickson Multiconcept;
Rex Fx, Tasky Fx,Beloved Fx,Faaji Enterprises, Oja Oyingbo,Kunlexs-p Enterprises, Irene Scents Fx,Greenearth Investments, Omoowo Forex, M invest, Hemmy Enterprises, Damzy Fx, etc
