The money about N4.5m was their daily savings popularly called ‘Ajo’ which they gave to the woman but she fled after some time. The incident happened at Anuoluwapo Street in Ejigbo where the woman resided with her family and also used as her office.
The police have started manhunt for the suspect referred to as Ogochukwu for the alleged fraud but she couldn’t be traced as she was believed to have moved right out of the house with her family due to pressure from the victims.
P.M.EXPRESS reports that the suspect reportedly used their money for the ponzi scheme – MMM with the hope that she will make more profit. But unfortunately, the whole money got stuck in the scheme and she was unable to refund money to the victims.
The scam was exposed when those who deposited their money in her care wanted to withdraw it in order to pay school fees and house rent but she started telling them stories and making unfulfilled promises.
It was gathered that when she could not settle those who needed to take their money back and others got to know, they reportedly came at once to take their money.