EFCC Arrests Gavice Logistics CEO Over N2bn Ponzi Fraud Scheme

The Economic Financial Crimes Commission (EFCC) has arrested Ahamba Tochukwu, the CEO of Gavice Logistics Limited, for an alleged N2 billion Ponzi-style fraud scheme. Tochukwu is accused of defrauding over 400 investors by promising a 50% return on their investments but absconding with the funds.

The EFCC warns Nigerians against engaging in unverified investment platforms, especially those offering unusually high returns, to avoid falling victim to fraudulent schemes like this. The arrest comes after a month-long manhunt, with Tochukwu currently being interrogated by the EFCC.