The Economic and Financial Crimes Commission on Tuesday announced that it has arrested a radio host in Enugu who was connected to an lleged N700 million Ponzi scheme. The identity of the host was disclosed as Favour Ekoh.
The EFCC noted that the agency had accused the radio who has been anchor of a programme named the Prime Time on Urban Radio 94.5FM in Enugu State of taking some individuals to invest in a scheme that has been discovered to be fraudulent with the promise of returns that have not been gotten til date.
A statement from the command revealed that the scheme was named Life Trading under Leverage Index Limited, and investors promised to get a 10 per cent return on their investments. The statement signed by the EFCC Head of Media and Publicity, Dele Oyewale, on Tuesday, revealed that the victims had submitted a compliment to the EFCC.
The EFFC noted that on Monday, October 14, 2024, the team of EFCC operatives attached to the Enugu Zonal Directorate of the Economic and Financial Crimes Commission visited Urban Radio Enugu with the intention of inviting one Favour Ekoh for some questioning regarding her involvement in an alleged N700m Ponzi scheme fraud, which has affected about 50 victims.
It was disclosed that the victims told the EFFC that after investing their money in the company located at No. 1 Colliery Street, Okpara Avenue, Enugu, the company shut down operations without returning their principal or profits.
The statement further noted that the suspect was said to be linked to the company, and the complaints had indicated the company loved operations, leaving all the victims stranded without any form of explanation.
It was explained by the EFCC that the role of the suspect as the host of the Prime Time programme had made her a trusted figure among the victims; she was said to have used her position to promote fraudulent activities.
The EFFC disclosed that when the operatives had arrived at the radio station, holding a warrant for Ekoh’s arrest, they had identified themselves to the station’s Managing Director, Bamikole Owoyomi, and explained their mission.
But in a twist by the staff of the radio, it was noted that the chairman of the station was called who ordered that the building’s gates be locked, effectively holding the officer hostage. A situation, according to the EFCC, necessitates the deployment of a rescue operation by the command.
He noted that the rescue operation team was deployed to the station to release the officer, who had been unlawfully detained. This led to the arrest of Owoyomi, Ekoh, and two security guards involved in the EFCC’s obstruction of the operation.
Contrary to an earlier allegation by the station which noted that the command had taken away some equipment from the station the EFCC noted that no item was taken way from the station by the operatives. The statement further noted that the suspect was not arrested when on live programme but the kind of allegation levelled on the suspect had made the command to conduct a sting operation to ensure her arrest.
The EFCC noted that the suspect was asked to make some statements at the office of the anti graft af=gencu in Enugu alongside Owoyomi and the security guards who were arrested and allowed to leave after due process.
It was explained that the Owoyomi and the guards were arrested for obstructing justice but were allowed to proceed after some processes that were satisfactory to the command’s Enugu office.
The statement further noted that the EFCC reiterated its respect for the media as the fourth estate of the realm and a critical stakeholder in the fight against corruption. They, however, noted that the commission condemned the actions of the radio station’s staff, stating that the precipitate and unlawful obstruction of EFCC officers from carrying out their duties was unacceptable.
