For many residents of Offa, a sprawling community in Offa Local Government area of Kwara State, these are definitely no happy times. The people are lamenting the loss of over one billion naira in the hands of fraudsters who masqueraded as officials of investment companies to defraud the people.
The men swindled many residents of the community and then disappeared into thin air.
Between August and September last year, about five investment companies had stormed the community purportedly to engage in some investment business. Officials of the companies - Damatop Investment Limited, Kaycee Ltd, Vessel Ltd, Pure Vessel Ltd and Arolcom Ltd said they were in the town to engage in international trade, selling of foreign exchange as well as invest in the oil and gas sector.
The companies rented choice property, recruited agents and canvassers and adopted various tactics to buy slots in the companies. They promised the people that if they bought slots in hundreds and in thousands, they would be given a 100 percent profit after 35 working days.
Many people, not too sure of the business, invested some meager amount and waited for 35 working days. The companies did not disappoint. The investors made a 100 per cent profit.
That sounded too good to be true. Thinking that they had just hit a rare jackpot, the people invited their friends, and soon, there was a massive rush for the shares from all segments of the society. Artisans, students, security agents, businessmen and women, traders and many others invested their life savings in the ‘business’. Unfortunately, the companies just folded up overnight even as their chief promoters, officials, agents and marketers have simply vanished.
No fewer than five persons have since died while many have contracted varying ailments, including stroke and hypertension.
A man who operated a business centre at the Olomowewe area of Offa, Mr Ayinla Kolawole narrated his ordeal to the reporter. He said: “The company, especially Damatop Investment, came in September, 2010 and they were distributing handbills that they were investment companies and were into oil and gas. They said such businesses required large sums of money and that they needed people to buy shares from them. They said at the end of 35 working days, profit would be 100 per cent of their investment.”
Kolawole lamented that he started with the sum of N10,000 and was paid N20,000. This encouraged other people to start investing large sums of money in the companies. By January and February, when people expected returns on their investment, the officials could no longer be found. That was when it started dawning on them that they might have been duped. Infuriated, many of the investors went in large numbers to attack Damatop Investment Ltd office close to Idi Ogun Garage, along the Federal Polytechnic, Offa.
Kolawole said teachers, tailors, bricklayers, students, lecturers, top security agents in Offa as well as some notable personalities were among the victims. Kolawole said the owner of a major food centre in Offa, a female petroleum marketer and a popular distributor of tyres were among those duped in the ill-fated ‘investment deal. It was learnt that the amount paid by each individual ranged from tens of thousands to over N10 million.
Kolawole said he invested over N750, 000 in the business even as he appealed to the government to help them trace the suspected fraudsters.
“We know we are at fault but we thought they were genuine since they had a Corporate Affairs Commission (CAC) registration number, with e-mail addresses. As for me, I have taken it as an act of Allah but what of those who cannot bear it? Some people are in hospital now because of shock while about three died on hearing that the people had disappeared. There was a woman who sold all her property, including her brother’s landed property. You can imagine how she feels. She also died.”
Miss Biodun Azeez, a student of the Federal Polytechnic, Offa who would be graduating later this month, said she and her friends invested over N750,000 in Kaycee Ltd but that officials of the company had disappeared too when they discovered what customers did to other companies like Damatop.
Said the 24-year-old girl: “I am supposed to collect N500, 000 on March 3 and another one on March 17. See the mess I find myself in now. I don’t know how I would get to my place of posting now as I find it difficult to ask my parents for any money now.”
Asked how she got involved with the company, she said: “An agent who lives near my house introduced the business to me, not knowing it was a fraud. It was when I was disturbing the agent that he gave me the number of the General Manager of Kaycee Ltd, one Mr. Philip with MTN no.07037867839. But I cannot waste my money calling a fraudster. However, the agent later forwarded a text message that the man sent to him asking us to pay some more money. The message read: We will secretly consider 1st ten lucky people who ready 2 understand with us, pay 50,000 2 dis ac: 0412110000021250, omotayo Adebayo. Intercontinental Bank. Ur current bal is N1.89m 4rm Lagos.
Investigations by Daily Sun revealed that some of the companies have relocated to Ekiti State. But when called, they pretended as if they were receiving the calls from Lagos.
Another victim, Alhaja Oyinlola Oyeyode (not real names) told our reporter: “My experience with the investments companies could be described as double jeopardy. Apart from the huge sum of money that I invested through a teacher friend, my customers used to buy kerosene here to sell at the main market. After the day’s sales, they would come and pay. But to my surprise I discovered that those who were to pay N280, 000 were paying less until I discovered that they had invested the money that they were supposed to pay me in these companies. So, what do I do now? You can’t believe that my teacher friend who prevailed on me to invest in these companies died just last week because of the shock. She could not withstand those of us she lured to the business.”
Some people who spoke with our reporter said the Olofa of Offa, His Royal Highness, Oba Mohammed Oloyede might have known the promoters of the companies. But the Principal Private Secretary to the Olofa, Mr. Tajudeen Oloyede denied the statement, saying: “The palace was sad about the incident. It was after the scam that people informed the palace. If the palace had been informed earlier, the Kabiyesi would have warned the people. The Olofa did not know these people from Adam.”
Oloyede declared that the Oba felt disgusted when he was informed that top security agents in the town were involved in the dubious deal, noting that the incident touched almost all the families in Offa.
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