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Alleged fraud: Court issues bench warrant against ponzi scheme operator

By Yetunde Ayobami Ojo 
02 December 2022   |   3:29 am
Justice Tijjani Ringim of a Federal High Court, Lagos, yesterday, issued a bench warrant against an alleged Ponzi scheme operator, Dr. Victoria Yemisi Imase-Regal, for alleged N36.45 million fraud.

Federal High Court, Lagos

Justice Tijjani Ringim of  a Federal High Court, Lagos, yesterday,   issued a bench warrant against an alleged Ponzi scheme operator, Dr. Victoria Yemisi Imase-Regal, for alleged N36.45 million fraud.

 
The judge issued the bench warrant against the Ponzi scheme operator, following an application made by counsel to the Police Special Fraud Unit (PSFU), Mr. Justin I. Enang.
 
PSFU had dragged the defendant alongside her four companies before the court on a seven-count charge of conspiracy, obtaining by false pretence and issuance of dud cheques.
 
The defendant was charged alongside her four companies: Yellowpoint Group, Media Enterprise, Yellowpoint Investment Limited and Yellow Point FT. International Limited.
   
The police alleged that the woman had used her companies to defraud victims of the above stated sums, on false pretence of giving them Multiple Return on Investment.
 
Among those allegedly defrauded by the defendant are: Iyoha Ihesekhen Gabriel; Adebeshin Edward Opeoluwa: Kayode Valentine Fowode and Samson Adekunie Martins.
 
She was also accused of issuing two new generation banks’ cheques with the monetary value of N18. 45 million and N18 million, to Mr. Iyoha Ihesekhen Gabriel, which were presented for payment, on the date stated therein. But both cheques were rejected on the ground that there were insufficient funds in the account.