600M failed Ponzi scheme

 

Victims of a failed Ponzi scheme have taken to the street to protest

Chinyere Emeka-atu is the organizer of the failed 600M Ponzi scheme

Punch Metro gathered that Chinyere used her Family, Family Food support Association to syphon 9,000 from members of the public including petty traders, every month with a promise on a higher Return of Investment 

According to Punch, The victims were said to have been promised a return of N200,000 cash and N90,000 worth of foodstuffs after nine months of investments in the association’s scheme.

Chinyere also reportedly created 39 groups headed by Independent leader under the association and given different tags such as "Yellow Team"

In no time Chinyere Emeka-atu would start defaulting in her payments of the Monthly Return on Investment and donation of food items as earlier agreed

The situation was said to have created uproar, leading aggrieved victims to report the matter to the police and Emeka-Atu was arrested and Arraigned before a Tribune court on April 12, 2022

The magistrate was said to have remanded Chinyere Emeka-atu in custody and adjourned the hearing