Mr. Nwabuba Victor Ifeanyi an undergraduate student of the Federal University of Agriculture Abeokuta (FUNAAB) has duped his colleague, professors, lecturers of 6billion naira in a forex scam gone wrong.
Mr. Nwabuba ran a ponzi investment scheme that enables investors to receive 20% of their money back after 2weeks. The scheme has been on for about 3months, until it was discovered that he had plans of running away with investors’ money, which summed up to 6 billion Nigerian Naira.
The move to run away comes after he was unable to pay his investors the return on investment which has been due for days.
It is alleged that professors, lecturers and students and some outsiders got involved in the ponzi scheme.