EFCC busts Ponzi scheme academy, arrests 133 suspects in Abuja

Operatives of the Economic and Financial Crimes Commission, EFCC, on Monday busted a Ponzi scheme academy and arrested 133 suspects in Abuja.

The suspects were apprehended at the Compensation Layout in the Gwagwalada area of the Federal Capital Territory, FCT, Abuja.

Their arrest followed actionable intelligence on the existence of the academy.

The institution, named Q University (also known as Q-Net), operates by recruiting unsuspecting young Nigerians and training them…