EFCC arrests Enugu wonder bank
proprietor
The Economic and Financial Crimes
Commission (EFCC), yesterday, said it has arrested the Managing Director of
Enugu’s Wonder Bank “Lets Partner With You Ltd” Chief. Patrick Shanchi Nwokike.
Depositors are said to have lost over N4 billion of their investments.
A statement issued by the EFCC in
Enugu said Chief Nwokike was arrested following over a hundred petitions, from
across the country, on the operations of “an alleged Wonder bank and its
nefarious activities.
“Petitions from a cross section of
Nigeria and cutting across religious, gender, ethnic, economic and social class
indicate that the company had over the past five years solicited and obtained
deposits of more than N4,000,000,000 from the general public with promise of
mouth watering interest in return.”
The Commission said its
investigations revealed that the company has no license to solicit and manage
funds for the public, neither was it registered with Securities and Exchange
Commission (SEC) or the Nigeria Deposit Insurance Company, (NDIC).
“Further investigations
revealed that a 10 percent interest was
for some time paid on invested capital which for no 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, Chief 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 CEO of “Lets Partner With You
Ltd” and his wife being the only signatories of the accounts.”
In his statement, Nwokike reportedly
acknowledged that depositor’s funds with his company was about N4,000,000,000, but denied operating
both money lending and investment
business as alleged by the petitioners.
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