Pinkoin: Nigerian Crypto Scammer Arrested for N32 Million Fraud
-
The founder of Pinkoin crypto project has been arrested by the Economic and Financial Crimes Commission (EFCC)
-
The founder, Mr Omotade-Sparks Amos Sewanu was finally caught after almost a year on the run
-
He reportedly scammed people of over 32 Million Naira by claiming to offer a cryptocurrency that will solve poverty in Nigeria
The Economic and Financial Crimes Commission (EFCC)has arrested Mr Omotade-Sparks Amos Sewanu, the founder of Pinkoin crypto.
He was arrested in Sokoto on Thursday after more than 6 months on the run.
The suspect had been accused of defrauding investors of funds reaching N32 Million.
The EFCC declared Mr Omotade-Spark wanted in November 2020 after he masterminded a Ponzi scheme.
The alleged fraudster created an online digital currency that he urged people to invest to get high returns.
Majority of his victims invested between 1000 Naira and 100,000 Naira, expecting to get ROIs but he made away with the money.
Read also: EFCC Recovered Jewelry From Diezani Worth Over N14 Billion
Mr Omotade-Sparks even made claims that he was in partnership with the EFCC to coerce people into investing in his fraud crypto, Pinkoin.
The suspect was also reportedly not licensed to operate a financial institution and he is expected to be arraigned in court.
Follow Naija.fm on our social media handles Facebook, Instagram, and Twitter to keep up with trending news, breaking news, entertainment news.
