Imagine Global Fraud: Investors in tears as Nigerian couple flees with N22 billion from Imagine Global Ltd

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Elizabeth Ajetunmobi and Bamise Ajetunmobi.

Imagine Global Fraud:  Nigerians who invested in have been left stranded after the company’s owners, a couple, allegedly fled the country with funds from thousands of customers.

According to social media accounts of investors, the couple, and went into hiding after allegedly syphoning off as much as 22 billion dollars from investors.

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claimed to be providing a micro-lending service to small and medium-sized businesses, with interest rates of 22% on loans and 10% returns to investors.

Several victims detailed their losses on social media, ranging from the low five figures to as much as $500 million. A WhatsApp group has been set up for those who have been harmed by the fraudulent scheme to pool their resources to recover their losses. The investors also established a Nairaland forum.

 

Attempts to contact the Ajetunmobis for comment were unsuccessful. The company’s Ajah, Lagos, the listed address has been locked. On Monday morning, the couple’s phone number was also unreachable.

A spokesman for Imagine Global’s legal adviser, Zuriel Consulting Limited, said the firm couldn’t comment on investors’ funds or the couple’s disappearance.

On Monday morning, The , “We have been hearing that the couple had fled Nigeria with investors’ funds.” “However, at this time, we have no comments to make about the controversy.”

The company also stated that it would not confirm or refute claims that the sum squandered was as high as N22 billion. The amount involved could not be independently verified by the , but similar schemes in the past have resulted in investors losing even more money.

Muyiwa Folorunsho and Glory Osie

Imagine Lenders is only the latest scheme to be exposed as another Ponzi business designed to fleece Nigerians. In recent months,

The Gazette has reported on shady investment schemes like and the disappearance of and , a couple wanted by Interpol since August for their role in a multimillion-dollar investment.

Ms. Osei and Mr. Folorunsho have since obtained Commonwealth of Dominica passports, indicating that they are unlikely to return to Nigeria in the near future. It was unclear how far Interpol’s manhunt for the couple had progressed.

MBA Forex, a scheme that promised 15% monthly returns to its investors, crashed in November of last year, leaving over 100,000 investors stranded.

Central Bank of Nigeria (CBN)
Central Bank of Nigeria (CBN)

 

The Central Bank of Nigeria (CBN) froze bank accounts linked to MBA, claiming that the company was owned by Maxwell Odum, who had collected over N171 billion from investors before going bankrupt.

Several warnings have been issued by the Central Bank, the Securities and Exchange Commission, and the EFCC to potential capital market investors, cautioning them against investing in fraudulent investment schemes.

Imagine Global, which was founded in 2017, claimed to have a customer base of 90,000 Nigerians on its website, but it was unclear how many of them were able to recoup their investments before the Ajetunmobis vanished. The couple is said to have fled to London, where an Imagine Global branch was established in August 2019.

Credit: Gazette, tags; Imagine Global Fraud, Ejes Gist News

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