The Sokoto Zonal Office of the Economic and Financial Crimes Commission has arrested the operator of Inks Nation Ponzi Scheme, Omotade-Sparks Amos Sewanu.
According to available information, the suspect, who had been at large, was arrested on Thursday.
Sewanu, 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: “Pinkoin,” which lured many Nigerians to invest between N1,000 and N100,000, with a promise of “unrealistic” returns.
He then distributed a payment card: “Pink Card,” to further confuse his victims, the EFCC said.
Sewanu 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, the anti-graft said.
He will be arraigned in court at the conclusion of the investigation, the EFCC added.