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EFCC Arrests MD Of 'Lets Partner With You' Over N4bn Fraud

Taking after over a hundred petitions from the nation over on the operations of a claimed Wonder bank and its evil exercises, the Economic and Financial Crimes Commission (EFCC) on Thursday October 6, 2016 captured the Managing Director of "Lets Partner With You Ltd", Patrick Shanchi Nwokike at his living arrangement in Enugu, Enugu state.

Candidates demonstrated that the organization had in the course of recent years requested and acquired stores of more than N4bn from the overall population with guarantee of mouth watering interests consequently.

As per examinations led by the Commission, the organization has no permit to request and oversee reserves for the general population nor was it enlisted with Securities and Exchange Commission (SEC), or the Nigeria Deposit Insurance Company (NDIC).

Encourage examinations uncovered that a 10% premium was for quite a while paid on contributed capital which, for no legitimate reason, was all of a sudden halted and all endeavors by contributors to have in any event the capital of their speculations returned, nor end their ventures demonstrated fruitless.

A hefty portion of the complainants charged that the administrators of the plan particularly, Nwokike, live exceptionally flashy ways of life as well as procured a few individual resources and in addition utilizing their stores for generous endeavor.

The organization was likewise found to have more than six records in around four saves money with the Nwokike and his better half being the main signatories to the records.

In his announcement, Nwokike who recognized that investor's assets with his organization was about N4bn, denied working both cash loaning and venture business as charged by the solicitors.

He expressed that his organization is into association business which gets cash from intrigued accomplices who wants enthusiasm from their cash after it may have been mixed into organizations particularly that of little scale brokers.

Nwokike contended that the present issue confronting his organization is as an aftereffect of the general monetary downturn in the nation; a contention punctured by his investors who said his organization began defaulting even before the present financial troubles.

Examination is still on-going to determine the degree of the organization's operations, its culpability, likely recuperation of assets and conceivable indictment.

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