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EFCC Nabs Pastor Involved In N1.3bn Scam And Money Laundering Scheme

Published February 5, 2024 at 4:16 PM

By James Smith

EFCC Nabs Pastor Involved In N1.3bn Scam And Money Laundering Scheme

Members of the Economic and Financial Crimes Commission (EFCC) have apprehended Apostle Theophilus Oloche Ebonyi, the General Overseer of Faith On The Rock Ministry International, for orchestrating a financial scam amounting to N1,319,040,274.31. The arrest comes in light of allegations that Ebonyi deceived church members and other Nigerians by promoting counterfeit grants purportedly from the Ford Foundation……..CONTINUE READING

According to a statement released on Monday, February 5, 2024, by EFCC spokesperson Dele Oyewale, Ebonyi faces charges of defrauding victims, including Non-Governmental Organizations (NGOs) and individuals. The scheme involved advertising an intervention project through his NGO, Theobarth Global Foundation, with the false claim that the Ford Foundation was offering a $20,000,000 grant to assist the less-privileged.

The alleged fraudster convinced unsuspecting victims to register as beneficiaries of the fabricated grant by requiring payment for registration forms and clusters, demanding N1,800,000 from each subscriber. Through this deceptive scheme, Ebonyi purportedly amassed a total of N1,391,040,274.31, victimizing innocent Nigerians and NGOs nationwide.

EFCC investigations revealed that there was no legitimate arrangement, grant, or business relationship between Ebonyi and the Ford Foundation. The Foundation explicitly disavowed any connection with Ebonyi and his NGO, emphasizing that there was no association whatsoever. The Commission has also identified five properties acquired by Ebonyi as proceeds of his illicit activities.

Despite the ongoing investigations, Ebonyi is reportedly still engaging with his subscribers on various social media platforms, attempting to promote the fraudulent Ford Foundation grant.

Upon the conclusion of investigations, Ebonyi is expected to face charges in court for his alleged involvement in the elaborate scam.

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Source: Bushradiogist