EFCC Arrests Ponzi Scheme Operators in Kano, Recovers Firearms 


Ibrahim Shuaibu in Kano

The Economic and Financial Crimes Commission (EFCC) in Kano zonal office, has arrested the duo of Garba Iliyasu and Umar Iliyasu who are alleged to be running a Ponzi Scheme in Kano under the name, MGB Global Market.

According to a press statement made available to THISDAY in Kano yesterday signed by Wilson Uwujaren Head of Media and Publicity of the commission, stated that their arrest was sequel to intelligence that the organisation had lured many citizens to ‘invest’ in the bogus scheme using irresistible promise of return on investment of up to 50 per cent in two weeks as bait.

The statement added that “Upon receipt of the intelligence, the commission stormed the office of MGB Global located at Sabo Bakin Zuwo Road, Opposite ConOil, Tarauni Local Government Area of Kano State and arrested Garba Iliyasu and Umar Iliyasu alongside 16 other employees of the outfit. The employees were subsequently released.

“During the operation, laptops, desktops, POS machines, Tokens and other documents were recovered.”

The anti-corruption commission revealed that investigation revealed that one Mohammed Garba Iliyasu who was now on the run was the Managing Director of the company. Two of his brothers, Abubakar Garba Iliyasu and Ibrahim Garba Iliyasu, also part of the scheme, are equally on the run.

According to them, “On September 5, 2019, operatives of the commission executed a search on the family house of the suspects in Hotoro Area of Kano State and made startling discovery of prohibited firearms, live ammunition and several other incriminating documents. 

“One of the suspects is allegedly building a 6-bedroom duplex at the same Hotoro with funds which are believed to be proceeds of the Ponzi Scheme.”

 The commission once again warned the general public to desist from patronising get rich schemes like MGB Global.