Stella Dimoko Korkus.com: EFCC Arrests 'Wonder Bank' Boss Over Alleged Illegal Operation Of A Financial Institution And Defrauding People To The Tune Of N4bn

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Saturday, October 08, 2016

EFCC Arrests 'Wonder Bank' Boss Over Alleged Illegal Operation Of A Financial Institution And Defrauding People To The Tune Of N4bn

Following over a hundred petitions from across the country on the operations of an alleged Wonder bank and its nefarious activities, the Economic and Financial Crimes Commission (EFCC) on Thursday October 6, 2016 arrested the Managing Director of “Lets Partner With You Ltd”, Patrick Shanchi Nwokike at his residence in Enugu, Enugu state.


Petitioners indicated that the company had over the past five years solicited and obtained deposits of more than N4bn from the general public with promise of mouth watering interests in return.


According to investigations conducted by the Commission, the company has no license to solicit and manage funds for the public nor was it registered withSecurities and Exchange Commission (SEC), or the Nigeria Deposit Insurance Company (NDIC).


Further investigations revealed that a 10% interest was for some time paid on invested capital which, for no justifiable reason, was suddenly stopped and all efforts by depositors to have at least the capital of their investments returned, nor terminate their investments proved abortive.


Many of the complainants alleged that the operators of the scheme especially, Nwokike, not only live very flamboyant lifestyles but acquired several personal assets as well as using their deposits for philanthropic enterprise.
The company was also found to have over six accounts in about four banks with the Nwokike and his wife being the only signatories to the accounts.

In his statement, Nwokike who acknowledged that depositor’s funds with his company was about N4bn, denied operating both money lending and investment business as alleged by the petitioners.

He stated that his company is into partnership business which receives money from interested partners who desires interest from their money after it might have been infused into businesses especially that of small scale traders.
Nwokike argued that the present problem facing his company is as a result of the general economic downturn in the country; an argument punctured by his depositors who said his company started defaulting even before the present economic woes.


Investigation is still on-going to ascertain the extent of the company’s operations, its culpability, likely recovery of funds and possible prosecution.
culled -bellanaija



*hmmmmmm



38 comments:

  1. EFCC news makes me puke!!!
    Yeye,always recovering but nothing to show for it.

    God I need your hug.

    ReplyDelete
    Replies
    1. U should probably also pray for a brain.

      Delete
  2. The sad fact is that such things as this would continue to thrive in Nigeria...because greed!

    ReplyDelete
  3. Some people sef!!!


    Are they always unaware of the illegality or at least the 'non legality' of their schemes as they carry them out? Or is it a case of 'make I do am get money first, if e wan shele make e shele, patapata, I go cell come out, settle some people and begin chop ma moni

    ReplyDelete
  4. Replies
    1. Happy dreaming. Wicked soul

      Delete
    2. Thunder and lighting will kill you. Oloshi, uchu, fool

      Delete
  5. Best news ever!!!! Wow.. this guy is as greedy as ever.. he should vomit people's money. Thief.

    ReplyDelete
  6. My friend kept disturbing me to join this 'let's partner with you' nonsense in Enugu then but I refused.Thank God for wisdom.

    ReplyDelete
  7. MMM is the next.
    I will still keep my promise that anybody that MMM affects should come and take one chilled bottle of beer to step down his/her heart to avoid heart attack due to over load

    ReplyDelete
    Replies
    1. Sorry, you will wait 4ever

      Delete
    2. @divine. He won't wait forever.MMM is the next.
      Sorry for people who will crumble when MMM falls.

      Delete
    3. Chike I will add bread to that beer u offered so it becomes bread and beer, nice combo

      Delete
    4. Am not one to be rude or respond to obviously crazy folks but you my dear, is a very foolish fellow.

      Delete
    5. See I have two people from this blog that once criticized mmm that are on it now, I manage their ACCTS, they are too busy, one got paid yesterday, so keep hating while we keep cashing out, if I could have my way I will stop people from join, we are okay they way we are

      Delete
    6. Zimbabwe MMM is down and Nigeria MMM is next. @Divine, do you know the origin of that MMM? A Russian man started it in 1989 and it folded after two years. The man went to exile but he was later captured and jailed.
      When they started it again, they pay investors after 7days,but due to the fact that the old members are more than the new investors they shifted the pay day to 14days,later 21 days and now 30days. They will continue to mobilize people till they will not be able to get new investors then they will close. Did I forget to tell you that the only way that you will be paid is if you mobilize new members to invest.
      If you can recall back 15years ago when networking reigned and how it folded you will know that you name is sorry because MMM gave you that name. Lol.
      My Igbo people will bear me witness when bag of rice own reigned in Onitsha. It was a hit, back to back..
      From networking to bags of rice to MMM....
      Orie dafu ya anybody.
      Genuine hustling ti take over...
      Fraudster oja wo mo...

      Delete
    7. Zimbabwe MMM is down and Nigeria MMM is next. @Divine, do you know the origin of that MMM? A Russian man started it in 1989 and it folded after two years. The man went to exile but he was later captured and jailed.
      When they started it again, they pay investors after 7days,but due to the fact that the old members are more than the new investors they shifted the pay day to 14days,later 21 days and now 30days. They will continue to mobilize people till they will not be able to get new investors then they will close. Did I forget to tell you that the only way that you will be paid is if you mobilize new members to invest.
      If you can recall back 15years ago when networking reigned and how it folded you will know that you name is sorry because MMM gave you that name. Lol.
      My Igbo people will bear me witness when bag of rice own reigned in Onitsha. It was a hit, back to back..
      From networking to bags of rice to MMM....
      Orie dafu ya anybody.
      Genuine hustling ti take over...
      Fraudster oja wo mo...

      Delete
    8. Thunder fire all of u talking bad about MMM. I get paid mobthly. Make Una dey wait. Fooooools

      Delete
    9. Mmm people protest plenty.let's watch and see.but l smell a rat.

      Delete
  8. Invest in our business, you won't. Now "partner with us" don carry your money go.

    ReplyDelete
  9. I know this guy na!!!

    So Patrick EFCC has finally caught up with you. Knowing this guy he will just settle EFCC and bounce. He is as crooked as they come.

    ReplyDelete
  10. Those investing in MMM start warming up

    ReplyDelete
  11. I invested my hard earned money into this evil man's Ponzi Scheme wonder bank. God will punish him, he'll die a shamefum death! Oh well, that's just me talkin but I knew it will come to this in Dec, when he took the whole staduim and was sharing things as if money grows on trees...

    ReplyDelete
  12. He should pay us ooooooooo mbok!

    ReplyDelete
  13. The way he shares money eh, builds houses for people,gives away cars, money,etc...I thought his well will never run dry, lots pf people won't recover from this shock! Lives have been ruined because of this man, the list is endless...nothing I wrong with his neck o, this man is a devil incarnate

    ReplyDelete
  14. This is synonymous to mmm. Wonder bank my foot

    ReplyDelete
  15. Begged an Ex for 200k to start business,he preferred to give this guy.i heard later that the above guy really duped him of nearly 15mill.my ex died last month as a result of his illness.no money to pay at memphy's.poor boi.thats life!i don over blow now sef!!

    ReplyDelete
  16. #Respect your uniqueness and drop comparison. Relax into your being*

    ReplyDelete
  17. Nothing will happen because mmm is not centralised like this. Anything investment that has a central account is ponzi and you should run away from it

    ReplyDelete
    Replies
    1. Don't say that this is just a pointer of they dealt with NOSPECTO in 2004. NDIC self na thief

      So watch it

      Delete
  18. Ponzi schemes everywhere but then again they thrive because of greedy people.Like seriously you have to be very greedy to fall for schemes like this.

    ReplyDelete
  19. Stella thanks alot for this news, pls keep us up to date on any new development .Am one of those people dumped by this company, i was convienced by my neighbour who works for This company and i invested my hard earned money that i wanted to start business with after NYSC, now i dont even know where to start .Am really in pain and i dont even now i will start and this wicked man is not even remorseful , giving money out everywhere he goes.God pls give me a good job to heal my broken heart.

    ReplyDelete
  20. Ive done alot of odd jobs that men alone should do to save this money and i didnt even get any interest and all the money gone. Everyday i wake i go thru my contract papers ,Thinking to myself , will i ever get this money back.

    ReplyDelete
  21. The general public should also be careful with MMM.. The source is questionable..

    ReplyDelete
  22. MMM is not for everybody oo. It is for those who have spare money. All these complainants and 'evil wishers' are ndi aguru wey never see food chop not to talk of having spare money to provide help in MMM.

    ReplyDelete

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