BUSTED!! EFCC Arrests Ponzi Scheme Operator Who ‘Defrauded Nigerians Of N7 Billion’


In step with a report by means of TheCable, the financial and economic Crimes fee (EFCC) has arrested Babagana Dalori, chief govt officer of Galaxy Transportation and construction services restricted, for allegedly defrauding Nigerians via a ponzi scheme.

The fee said 27,four hundred Nigerians misplaced N7 billion via faux promises of excessive returns on their investment in Dalori’s companies.

In a statement, Tony Orilade, EFCC spokesman, stated Dalori became located to have initially paid investors 200 in keeping with cent hobby on their deposits in his companies.

He said the suspect later reduced the interest to 135 consistent with cent “earlier than the scheme crashed in 2018.”

“Dalori, who’s currently undergoing interrogation inside the fee, had incorporated the firm in 2012 with one tricycle (Keke NAPEP), which through pool investments by way of individuals of the general public later boasted of 50 tricycles,” the announcement examine.

“The entrepreneur later different into other business ventures even as promising mouth-watering returns to buyers.

“To suck as many unsuspecting victims into his ponzi internet, Dalori engaged in big advertisements on radio and television, which includes a production of a movie by A-listing Nollywood actors, which aimed at convincing members of the general public to spend money on his companies.”

The anti-graft stated a sufferer lamented the frustrations of unsuspecting buyers who can not get their finances returned.

In step with the victim:-

“in the interim, he has used the investors money to incorporate exceptional entities without getting their consent. He now has Galaxy global electricity idea Ltd, Galaxy Miners idea Ltd, Galaxy international Farms, Galaxy computers, Galaxy Block Making manufacturing unit, Galaxy health facility and Galaxy hotel.”

The fee accused Dalori of committing a crook act, saying all bank bills belonging to his organization have since been frozen.

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