EFCC Busts Ponzi Scheme Academy, Arrests 133 Suspects in Abuja

EFCC Busts Ponzi Scheme Academy, Arrests 133 Suspects in Abuja

Operatives of the Economic and Financial Crimes Commission (EFCC) have dismantled a Ponzi Scheme Academy in Abuja, arresting 133 suspects in the process. The operation took place on Monday, March 24, 2025, at Compensation Layout in Gwagwalada, Federal Capital Territory (FCT), following credible intelligence on the fraudulent activities of the organization.

The Academy, known as QUniversity (also called Q-Net), was allegedly involved in recruiting unsuspecting young Nigerians and training them to lure others into the scheme with promises of unrealistic profit returns. The EFCC described the operation as a network of deception designed to exploit vulnerable individuals seeking quick financial gains.

Following the raid, the 133 arrested suspects were taken into custody for further investigation.