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<\/p>\nDalori was arrested for allegedly defrauding no fewer than 27, 400 Nigerians to the tune of about N7 billion through fake promises of mouth-watering returns on their investment in his companies.<\/p>\n
The commission\u2019s Acting Publicity secretary, Mr Tony Orilade, made this known in a statement in Abuja on Tuesday.<\/p>\n
According to the statement, Dalori, who is currently undergoing interrogation in the Commission, had incorporated the firm in 2012 with one tricycle (Keke NAPEP), which through pool investments by members of the public later boasted of 50 tricycles.<\/p>\n
\u201cThe entrepreneur later diversified into other business ventures while promising mouth-watering returns to investors.<\/p>\n
\u201cThe commission\u2019s investigators discovered that Dalori initially paid 200 per cent interest on investors\u2019 deposits in the firm and later reduced the interest to 135 per cent before the scheme crashed in 2018.<\/p>\n
\u201cTo get as many unsuspecting victims into his ponzi net, Dalori engaged in massive advertisements on radio and television, including a production of a movie by A-list Nollywood actors.<\/p>\n
\u201cUnfortunately, his gimmicks paid off as different people took their hard-earned savings, inheritance, pensions and other source of income and invested in Galaxy.<\/p>\n
\u201cNow, the scheme has crashed and investors can no longer get their money.<\/p>\n
\u201cAt the moment, he has used the investors money to incorporate different entities without getting their consent.<\/p>\n
\u201cHe now has Galaxy Global Energy Concept Ltd, Galaxy Miners Concept Ltd, Galaxy Global Farms, Galaxy Computers, Galaxy Block Making Factory, Galaxy Hospital and Galaxy Hotel.\u201d<\/p>\n
According to Orilade, all bank accounts belonging to Galaxy have been frozen in order to prevent further dissipation of investors\u2019 funds, pending the conclusion of investigation.\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
The Economic and Financial Crimes Commission (EFCC) has arrested the Chief Executive Officer of Galaxy Transportation and Construction Services Limited, Mr Babagana Dalori. Dalori was arrested for allegedly defrauding no fewer than 27, 400 Nigerians to the tune of about N7 billion through fake promises of mouth-watering returns on their investment in his companies. The […]<\/p>\n","protected":false},"author":1,"featured_media":105636,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[3773,3],"tags":[866],"class_list":["post-110204","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crime","category-news","tag-efcc"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/posts\/110204","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/arewa.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=110204"}],"version-history":[{"count":0,"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/posts\/110204\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/media\/105636"}],"wp:attachment":[{"href":"https:\/\/arewa.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=110204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/arewa.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=110204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/arewa.ng\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=110204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}