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Ponzi Scheme Exposed: EFCC Arrests 133 Suspects In Major Abuja Sting Operation
EFCC operatives on Monday arrested 133 suspects during a raid on a fraudulent Ponzi scheme academy, known as Q University or Q-Net, in Abuja’s Federal Capital Territory (FCT).....KINDLY READ THE FULL STORY HERE▶
The sting operation, conducted at Compensation Layout in Gwagwalada, was based on intelligence reports exposing the academy’s deceptive tactics targeting young Nigerians.
According to EFCC’s Head of Media and Publicity, Dele Oyewale, Q University operated under the guise of a wealth-building program, tricking recruits with a so-called “Special Training for New Generation Billionaires.”
Participants were misled into believing they would achieve billionaire status after completing the program, with entry requiring the purchase of an “Independent Representative Application Form.” The scheme reinforced its deception with motivational slogans like “I’m a Champion,” “I’m Unstoppable,” and “I’m Infinity.”
The EFCC, in collaboration with the 176 Guards Battalion of the Nigerian Army, executed the raid, seizing mobile phones, computers, and other electronic devices crucial to the investigation.
Oyewale described the academy as a well-organized con, where participants were brainwashed into believing wealth was guaranteed.
The commission confirmed that all suspects will face prosecution once investigations are concluded.
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