Anti-corruption and elections / EFCC
Alleged N10bn Fraud: EFCC Arraigns Ponzi Scheme Operator in Lagos
The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission, EFCC, on Thursday, June 19, 2025, arraigned a Ponzi scheme operator, Adonu Kingsley Ifeanyi, before Justice Chukwujekwu Aneke of the Federal High Court, sitting in Ikoyi, Lagos. Adonu was arraigned on a five count-charge of money laundering to the tune of N10 Billion. One of the counts reads : ”That you ADONU KINGSLEY IFEANYI between 4" June, 2021 and 23 July, 2021, in Lagos within the jurisdiction of this Honourable Court did take possession of the total sum of N1,076,337,842 (One Billion, Seventy Six Million, Thre…
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