A Ponzi scheme operator name COOP SAVINGS AND LOANS LIMITED RC 210930 located at iwata area apoje poly junction Oke agbo Ijebu Igbo, has defrauded hundreds of victims, fleecing them of millions of naira.
According to information gathered, two individuals introduced a cooperative scam to Ijebu Igbo, employing local indigenes to work for them.
Victims, mostly market women, have been left in agony after being defrauded of millions of naira. They claim to have paid registration fees ranging from N2,000 with promising and helping people of receiving millions in return. The Ponzi Scheme Defrauds Hundreds in Ijebu Igbo and environs of N300k, N700k, N1.2m and more.
The scammers started operating in August 2024, but abruptly closed their office and fled today.
When victims discovered the office was closed, they broke in and found abandoned documents, forms, and pictures with salt sprinkled on them. The scammers had promised to provide loans to help people boost their businesses, but instead, they disappeared with the victims’ money.
Victims of the COOP SAVINGS AND LOANS LIMITED Ponzi scheme have come forward to share their harrowing experiences. One victim revealed that he was duped out of N30,000 with the promise of receiving N200,000 in return.
Another victim, a woman, shared that she was convinced to invest in the scheme and had deposited N700,000 just yesterday, expecting to receive N2 million by Friday. She had hoped to use the funds to boost her business, but now her fate hangs in the balance.
These victims, along with hundreds of others, have fallen prey to the false promises of COOP SAVINGS AND LOANS LIMITED. The scheme’s operators had promised unusually high returns, but instead, they have disappeared with the victims’ hard-earned money.
The victims are now left to pick up the pieces and wonder how they fell for such an obvious scam. The incident serves as a stark reminder to be cautious and vigilant when dealing with investment opportunities that seem too good to be true.
More details will follow shortly.