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
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.