…as CSOs petition EFCC for justice

By Luminous Jannamike

ABUJA – Investors across 127 countries are reeling from a large-scale investment scam that has seen approximately $87 million misappropriated by Mr. Jesam Michael through the Afriq Arbitrage System (AAS).

The scam has left a trail of devastation, with victims facing severe personal and financial losses, including broken marriages and bankrupt businesses.

During a world press conference in Abuja on Monday, the National Coordinator of the Coalition of Civil Society for Good Governance (CCSGG), Comrade Okpanachi Jacob, revealed the harrowing impact of the fraud.

“Our attention was drawn to activities of one Mr. Jesam Ubi Michael who has scammed investors from over 127 countries with a great number from Nigeria,” Jacob stated.

According to him, the AAS promised high returns and a hack-proof system, but it ultimately appropriated a whopping $87 million for personal use by its creators.

He continued, “To the unsuspecting victims he keep providing various excuses on why the platform stopped operation until he alleged that the so called hack proof system was hacked by his own confidant and accomplice one Abayomi.

“While this is happening we become interested in ensuring justice for this innocent Nigerians from the relevant anti-corruption agencies as lives are been lost, businesses are been grounded and investors are been arrested by banks on a daily basis due to losses incurred through this investment scam by AAS.

“We hereby call on Economic and Financial Crimes Commission (EFCC) to act fast as more innocent Nigerians might fall into the traps of this scam by AAS as he kept on dispensing false hope to some of the victims while spending their hard earned money on his personal venture.

“We are in no doubt on the capacity of Economic and Financial Crimes Commission (EFCC) to handle this issue in line with the commitment of the current administration’s renewed hope agenda in the fight against corruption

“It is in the light of this that we as a coalition in collaboration with VICTIMS OF AFRIQ ARBITRAGE SYSTEM (AAS) SCAM, request for the immediate arrest, investigation and prosecution of Mr. Jesam Michael and his entire management team of AAS with a view to recovering their invested funds.”

In an emotional testimony, Engr. Awaji Oma, speaking on behalf of the victims, recounted how they were deceived.

He described how Michael used personal videos to gain their trust and persuaded them to invest heavily, only to betray them in the end.

Oma said, “We were systematically brainwashed by Mr Jesam Michael on his Telegram group, where he uploaded videos of his family and children to gain our trust.

“He told us to sell our properties and invest more in order to participate in his supposed trading system that would guarantee high returns and protection against losses.

“However, it turned out to be an elaborate deception, and as soon as we invested our funds, he changed the rules and blocked access to the money.

“We are demanding justice and accountability for the significant financial and emotional distress caused to thousands of victims.”

The victims, now united in their quest for restitution, are seeking both financial recovery and the emotional closure that can only come from justice served.