Stella Dimoko Korkus.com: EFCC Arrests Notorious Ponzi Operator In Uyo

Advertisement

Advertisement - Mobile In-Article

Thursday, July 09, 2020

EFCC Arrests Notorious Ponzi Operator In Uyo

The operator of a grand Ponzi Scheme : “No Burn Global Limited”, Umanah Umanah, has been arrested by operatives of the Uyo Zonal Office of the Economic and Financial Crimes Commission, EFCC.







He was arrested recently in a hotel located at the Osongoma area of Uyo, Akwa Ibom state, following a petition sent to the Commission by Joseph E. Uko, who alleged that Umanah swindled him of over N2.9million( Two Million, Nine Hundred Thousand Naira) and subsequently issued him a cheque for N500,000( Five Hundred Thousand Naira only) that was never honoured as the account in question was not funded to cover the sum for which the cheque was issued.
.
.
According to the petitioner, after several months of expecting to receive his 50% returns on investment, without any success, he decided to get back his invested funds. But all efforts made by him to get back his money proved abortive as Umanah deserted his office located at Plot 110-Unit D, Ewet Housing Estate, Uyo,, and went into hiding until operatives of the Commission smoked him out.
.
.
Before his arrest, Umanah, 62, allegedly lured people to invest in his company, by assuring them of a bogus 50% interest within one week. He allegedly operated smoothly in a number of states, including the Federal Capital Territory (FCT), but denied any knowledge of the petitioner and the evidence of his allegations against him.

37 comments:

  1. Do People still fall for Ponzi schemes? What a shame

    ReplyDelete
    Replies
    1. I follow you ask oh 🙄🙄

      Delete
    2. Is this the same Umanah Umanah the money doubler of years ago? or is this another Umanah Umanah doing the same business.
      Do people even still do that MMM thing?

      Delete
    3. I remember on this blog when a lot of people invested in MMM and were arguing that it was real and they made a lot of money from it. I wonder if they still have the same opinion and will invest again in that that of scheme.

      Delete
    4. Umanah umanah of the early 90s?

      Delete
    5. They do o. And if there's anything like that next year, people will still fall.

      Delete
    6. Does anyone know anything about CROWD1?

      Delete
    7. people made money from MMM very well...the thing is if you do not stop which is very very very hard to do you must surely lose cos someone somewhere must default and topple the whole pyramid..only those who start a ponzi scheme benefit from it

      Delete
    8. Is Norland a ponzi scheme?

      Delete
    9. Anon 10:18 I think he must be the same 90's Umanah Umanah. Jeez! 😣

      My eldest sister was working in a bank in PH then and told us how some people fell prey to this man. She discouraged all her friends from investing then and saved them from untold sorrow.

      Delete
    10. @ Mao, yes I know a whole lot about crowd1. Its an online network and affiliate marketing business. It's real but be ready to work.

      LadyGee

      Delete
  2. Please is Bitcoin abi cryptocurrency also Ponzi Scheme
    I really need ans please

    ReplyDelete
    Replies
    1. King of ponzi

      Delete
    2. The Answer = Greed.

      Delete
    3. Pls is gramfree a ponzi scheme?

      Delete
    4. Is Norland a Ponzi scheme

      Delete
  3. Good!..
    God punish all of them ndi binomo and flip cash people...

    ReplyDelete
  4. Is this the same Umanah that swindled people back in the 90's? I recall my mother always talking about how Umanah Umanah duped people that year.

    Meanwhile, you see anything that involves money doubling? Count me out.
    Pay N10,000 to get N100,000. Pay N20,000 and get 50% return on investment in 3 months. Forget it.

    Bottom line: If its too good to be true, don't do it.

    ReplyDelete
  5. Aha! Good one but I wonder why people still do it tho! All Ponzi schemes na correct scam,it's another way of 419

    ReplyDelete
  6. Gosh!! Is this the same man from twenty years ago that collected so many people’s money also.
    Umanah, did something in PHC, those days.

    ReplyDelete
  7. The way people fall on this ponzi na wa.

    ReplyDelete
  8. Papa that should be using his life to serve God. Na wa!

    ReplyDelete
  9. All the ponzi schemes are all scam...

    ReplyDelete
  10. Hmmmm, this man again .Thank God you have been caught. See him old man that want to swindle people, instead of you to retire in peace and enjoy your pension, you are still doing fraudulent activities. Na jail get you for now.

    ReplyDelete
  11. 2020 is truly the year of reckoning for fraudsters.

    ReplyDelete
  12. I don't know how people keep falling for these Ponzi schemes. That's how my neighbor did the Arocom ish.she did 4k in 5 places,did 10k in 3 places,did 35k in 2 places and immediately she heard there was a new package for 182k,she did too. Not just her o.i have friends that did that Arocom stuff and got rice,milk,demo,etc. Till date non of them have gotten 1kobo. I have never and will never fall for anything that will tell me that I won't work for the money. That's greed.
    Money wey I no even get

    ReplyDelete
    Replies
    1. 🙆🏼‍♀️🙆🏼‍♀️🙆🏼‍♀️🙆🏼‍♀️🙆🏼‍♀️🙆🏼‍♀️🙆🏼‍♀️🙆🏼‍♀️

      Delete
  13. i will never do any ponzi scheme in my life again. i never did MMM but i did one like that in dollars. spent equivalent of about 1 million but got back only about 400 before they said it was converted to bitcoins bla bla bla..this is something they disturbed me for months to join oh but i still fell..the fool who made me join has relocated to the US so for me to go through the procedures of getting my money back sef tire me..

    ReplyDelete
  14. Greed is the major reason why people engage in ponzi schemes. People want quick money.

    ReplyDelete
  15. The poor economic situation in this country is the major reason this ponzi is still getting gullible people..

    ReplyDelete
    Replies
    1. GOLIBE, I would rather say it is the mammonism in Nigeria that draws greedy people into ponzi. Same as fraudsters, polithievcians, pen-robbers in public and private sectors fake products manufacturers as well as the cheating traders in the markets.

      Delete
    2. GOLIBE, I would rather say it is the mammonism in Nigeria that draws greedy people into ponzi.
      Same with fraudsters, polithievcians, pen-robbers in public and private sectors fake products manufacturers as well as the cheating traders in the markets.
      One common denominator - get rich quick without sweat. ☹️

      Delete
  16. This man defrauded people in the 90s and has built his career as a fraudster. I worked for him when I discovered he is a fraudster, I left and he refused to pay me.

    ReplyDelete

Disclaimer: Comments And Opinions On Any Part Of This Website Are Opinions Of The Blog Commenters Or Anonymous Persons And They Do Not Represent The Opinion Of StellaDimokoKorkus.com

Pictures and culled stories posted on this site are given credit and if a story is yours but credited to the wrong source,Please contact Stelladimokokorkus.com and corrections will be made..

If you have a complaint or a story,Please Contact StellaDimokoKorkus.com Via

Sdimokokorkus@gmail.com
Mobile Phone +4915210724141