Home Courts Court orders arrest of Lagos ponzi scheme operator

Court orders arrest of Lagos ponzi scheme operator

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A Federal High Court in Lagos on Thursday ordered the arrest of Victoria Imase-Regal, the operator of a ponzi scheme, over alleged fraud amounting to N36.45m.

The judge, Justice Tijani Ringim, issued the bench warrant against the Ponzi scheme operator following a request made by the prosecutor, Justin Enang, from the Police Special Fraud Unit (PSFU), Lagos.

The PSFU charged the defendant alongside her four companies on seven-count of conspiracy, obtaining by false pretence and issuance of dud cheques.

The police alleged that Imase-Regal used her companies to defraud victims on the false pretence of giving them multiple returns on investment.

Among those allegedly defrauded by the defendant included Iyoha Gabriel, Adebeshin Opeoluwa, Kayode Fowode and Samson Martins.

According to the prosecutor, the offences committed are contrary to Section 8(a); 1(1)(a) and punishable under Section 1(3) of the Advance Fee fraud and other Fraud Related Offences Act, 2006 and Section 1(1) of the Dishonoured Cheques Act, Cap 011, Laws of the Federation of Nigeria, 2004.

When the matter came up for hearing on Thursday, Enang told the court that the defendant had never shown up since she was granted administrative bail by the police.

The prosecutor, therefore, urged the court to issue a bench warrant against her.

Justice Ringim in his bench ruling, held, “Bench Warrant is hereby issued against the defendant.”

While adjourning the matter till April 4, 2023, for the arraignment of the defendant, the judge, however, held that the police could approach the court for her arraignment if she was arrested before the adjourned date.

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