EFCC Nabs Galaxy Boss, Sokoto Voodoist over Frauds
How Galaxy Boss Pulled-off N7bn Fraud on Nigerian Investors
The Economic and Financial Crimes Commission (EFCC) has arrested the Chief Executive Officer of Galaxy Transportation and Construction Services Limited, Babagana Dalori, who defraud 27,400 Nigerians to the tune of about N7billion through fake promises of mouth-watering returns on their investment in his companies.
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.
The entrepreneur later diversified into other business ventures while promising mouth-watering returns to investors. The Commission’s investigators discovered that Dalori initially paid 200 percent interest on investors’ deposits in the firm and later reduced the interest to 135 percent before the scheme crashed in 2018.
To suck 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, which aimed at convincing members of the public to invest in his companies.
As a victim stated, “he even went to the extent of organizing Nollywood stars to produce a movie for him to further promote public investment into his company. He specifically organized some actors and actresses in Kannywood to act in a movie called “Zero Hour” to show the need for people to invest in Galaxy.
“Unfortunately, his gimmicks paid off as different people took their hard-earned savings, inheritance, pensions and other source of income and invested in Galaxy. Now, the scheme has crashed and investors can no longer get their money.
“At the moment, he has used the investors money to incorporate different entities without getting their consent. He 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.”
Dalori’s modus-operandi is typical of those of Nigerian wonder banks, by accepting deposits from members of the public when his company is not a licensed financial institution, the suspect and his company have committed a criminal act punishable by the Banks and Other Financial Institutions Act.
At the moment, all bank accounts belonging to Galaxy have been frozen in order to prevent further dissipation of investors’ funds, pending the conclusion of investigation.
His media aide, Cletus Onoja, however, blamed Dalori’s inability to honour his obligation to his investors on the loss of one of his companies’ largest dredgers in Jere sand mining site in Kaduna State.
Ag. Head, Media Publicity
EFCC Docks Fraudulent Spiritualist in Sokoto
The Economic and Financial Crimes Commission, EFCC, Sokoto Zonal Office, on Tuesday, April 23, 2019 arraigned one Umaru Isma’ila before Justice Bello Duwale of the Sokoto State High court, sitting in Sokoto, on a two-count charge, bordering on obtaining money by false pretence to the tune of N668, 000 (Six Hundred and Sixty Eight Thousand Naira).
The complainant, Sani Musa alleged that sometime in 2017, he met the defendant through his friend, Mujitafa, who invited him to Sokoto to meet the defendant, whom he claimed could produce money through voodoo.
Musa disclosed that he travelled to meet Isma’ila, who told him that he will pray for him to be rich but that he had to buy some perfumes for the prayers. For that, the defendant collected several amounts of money from him on different dates.
The complainant disclosed that he later found out that the whole thing was a fraud and that all efforts for him to recover his money proved abortive.
Count one reads: “That you Umaru Ismaila sometime between the months of March, 2017, June and July, 2018 at Sokoto within the jurisdiction of this honourable court, with intent to defraud, did obtain the total sum N668,000.00 (Six Hundred and Sixty Eight Thousand Naira) from one Sani Musa, when you falsely represented yourself to him as capable of making him become rich (wealthy) by praying for him, a pretence you knew to be false and thereby committed an offence contrary to section 1 (1) (a) of the Advance Fee Fraud and Other Fraud Related Offences Act of 2006 and punishable under Section 1 (3) of the same Act”.
The defendant pleaded not guilty to the charges.
Following his plea, the prosecution counsel, Habila Jonathan, asked the court for a date for the commencement of trial and prayed the court to remand the defendant in prison custody.
However, the defense counsel, A. Anas prayed the court to grant the defendant bail, arguing that his offences were bailable.
Justice Duwale granted the defendant bail in the sum of N20, 000 (Twenty Thousand Naira) and one surety in the like sum. The surety must be the Local Government Area Councillor, representing the defendant.
The matter was adjourned to May 6, 2019 for hearing, while the defendant was remanded in prison custody pending the perfection of his bail conditions.
Ag. Head, Media Publicity