The Special Fraud Unit (SFU) of the Nigerian Police in Lagos, has arrested one Dominic Ngene Joshua, who will be arraigned as soon as the courts reopen for business.

The 21-year-old Managing Director/Chief Executive Officer of Brisk Capital Limited has been accused of diverting over N2 billion in investor funds.

Joshua who hails from Ebonyi State and operated from Uyo, the Akwa Ibom State capital, was picked up by the police following petitions from some of the investors he's allegedly scammed.

Detectives say he lured his victims via social media platforms such as Instagram, Facebook and LinkedIn.

Investors were allegedly duped in cash and cryptocurrency trading.

Security expert Nnamdi Chife says Joshua's modus operandi was to promise investors 60 percent ROI (Return on Investments) in real estate, forex, oil and gas, e.t.c

The Commissioner of Police in charge of the fraud unit, Anderson Bankole, has advised the public to be wary of investment/portfolio managers that promise very high returns on investments.

Bankole adds that: “the funds which belong to over 500 investors was diverted to sponsor extravagant lifestyle, parties, exotic cars, luxury watches and real estates in Abuja, Lagos and Port Harcourt.

“The suspect confessed to the crime but pleaded to be given time to return the monies. Some of the properties/items purchased with the diverted funds have been recovered as exhibits while the suspect will be charged to court as soon as the strike by Judiciary Staff Union of Nigeria (JUSUN) is called off.”