The Economic and Financial Crimes Commission (EFCC) has arrested the operator of Inks Nation Ponzi Scheme Omotade-Sparks Amos Sewanu, in Sokoto State.
The EFCC Head of Media and Publicity, Wilson Uwujaren, who disclosed this in a statement sent to Ripples Nigeria, said Omotade-Sparks who has been at large, was finally arrested on Thursday.
According to him, the suspect has made useful statement to the commission’s operatives.
Uwujaren said: “Omotade-Sparks who hails from Badagry, Lagos State, was declared wanted by the EFCC in November 2020 after efforts to apprehend him failed.
“He is the alleged mastermind of a huge pyramid investment scheme through which many citizens were defrauded of monies to the tune of over N32 million.
“He had floated a phony online digital currency called ‘Pinkoin’ which lured many Nigerians to invest between N1,000 to N100,000 with a promise of unrealistic returns and went ahead to distribute a payment card called ‘Pink Card’ to further confuse his victims.
“Omotade-Sparks equally made false claims that he was in partnership with the EFCC to persuade people to invest in his devious scheme.
“The scammer was not licensed to operate a financial institution. He will be arraigned in court at the conclusion of investigation.”
Join the conversation
SPECIAL REPORT: Displaced residents of Zamfara battle hunger, as underfunding derails Nigeria’s nutrition goals
On paper, Muhammad Zayyanu is seven years old. The quiet boy who looks shorter for his age could not recollect...
INVESTIGATION: N7.3bn paid for unnamed projects; how Nigerian govt spent N2.2trn in six months
Analysing nearly 3,000 payments made by various Federal Government Ministries, Departments and Agencies (MDAs) over the previous six months (January...
INVESTIGATION… Delay rocks Nigerian govt’s promise of N30,000 covid-19 relief for artisans, others
Before the outbreak of the COVID-19 pandemic in February, 2020, Chukwudi Okoroigwe’s daily earnings as a bus driver was hardly enough to cater to the...
INVESTIGATION… Ten years after, communities count losses as AfDB, Cross River govt abandon road project
Ten years after the Cross River State government and African Development Bank (AFDB) jointly awarded the Yahe-Wanokom-Wanikade-Benue border road for...
INVESTIGATION….N.3bn down the drain: Why water projects for Enugu communities don’t work
In this concluding part, ARINZE CHIJIOKE talks about some of the projects that are serving the people and how various WASH programmes have failed to tackle...