The money said to run into several billions of naira, was invested by those he promised to pay 30 per cent return on investment every 30 working days.
A young businessman based in Enugu State, Mr Agbo Paul Onyebuchi Divine, who is the founder and Chief Executive Officer of De Ecstasy Agro and Farming Services, has disappeared with money invested in his company by members of the public.
The money said to run into several billions of naira, was invested by those he promised to pay 30 per cent return on investment every 30 working days.
Since the beginning of this month (November), many of the investors largely made up of students of the University of Nigeria Nsukka and other institutions around, who visited the company's office located at 234 Enugu Road, Nsukka, Enugu State, have been left disappointed as Mr Divine is nowhere to be found.
Apart from absconding with investors' fund, Divine, who hails from Imilike Agu under Udenu Local Government Area of Enugu State, has boasted that nothing will happen to him as he has the protection of those at the 'top'.
A victim of the investment fraud, who spoke with SaharaReporters, Maduka Anyika Madu, said the development has thrown many families in Enugu into sorrow and depression.
He said, "Agbo Paul Onyebuchi Divine, CEO of De Ecstasy Agro and Farming Services, has run away with investors' money running into billions. He even brags that nobody can do him anything.
"This callous act by him has thrown many families in Enugu into crisis. People who invested their funds have been left to cry in pain. We are pleading with the authorities to help us track this man down and ensure we all get back our money."
Another victim of the fraud, Chinaza Ugwuoke, also expressed disappointment at the development.
She said, "I can't still believe I was scammed. Oh Lord, how do I survive this?"
A young man named Onyedikachi Hyginus, who is also a victim of the now absconded businessman, said the situation has affected his life negatively.
He said, "My life is in shambles because of him (Mr Agbo Paul Onyebuchi Divine)."
Other victims of this scam, who also expressed regret at the latest development, revealed that Mr Divine and his De Ecstasy Agro and Farming Services caused the people of Nsukka pain and that without getting their money back, many families will not recover from the trauma for a long time.
Apart from collecting funds from members of the public through his farming business with the promise of paying mouth-watering returns under six weeks, Divine also runs a real estate firm that he uses to lure unsuspecting members of the public to part ways with their funds.
When SaharaReporters sought the reaction of the 'wanted' businessman over the development, his mobile telephone line signalled that it was switched off.
Ponzi Schemes: Investing In Sorrow, Depression
This is not the first time that business people promising massive returns on investments would be running away with funds belonging to members of the public –the latest merely adds to a long list of such fraudulent acts by conmen often aided by powerful Nigerians.
For instance, in May 2021, the Economic and Financial Crimes Commission (EFCC) arrested one Amos Olaniyan for using DHIL Nigeria Limited to allegedly defraud people of over N128 million through a shady investment scheme.
In September 2021, 24-year-old Adewale Jayeoba of Wales Kingdom Capital Limited, was declared wanted by the EFCC for allegedly defrauding unsuspecting victims to the tune of N935 million.
Between October 2020 and August 2021, Nigerians were fleeced of over N12 billion by about 10 Ponzi schemes promising outrageous returns on investments, according to data obtained from the website of the EFCC.
This is aside from the over N18 billion Nigerians lost to the infamous Mavrodi Mundial Movement between 2015 and 2016.
Despite several petitions to anti-graft agencies in Nigeria, not many perpetrators of these crimes have been punished for their act.