Man In EFCC Net Over N343.8m Investment Scam

A 40-year-old man, Ayodele Saheed Olaniyi, is in the custody of the Economic and Financial Crimes Commission, Ibadan Zonal Office, for allegedly duping people of the sum of N343, 880,000.

The petitioner alleged that they were hoodwinked by Olaniyi into investing in a network business called Beerbanc Traders’ Network. The business required that they pool resources together to establish a beer retailing business with the promise that the proceeds would be shared every month among the investors and the coordinating company.

In the course of their investigation, the detectives discovered that the suspect was operating eight different bank accounts through which he enlisted 114 people into the phoney scheme.

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