Ovaioza Umu Yinusa, the founder of Ovaioza Farm Produce Storage Business (OFPSB) has been arrested by the Lugbe division of the Abuja Police Command.
Yinusa was arrested together with her husband, David and her mother.
The police also took her to her house to get some documents relating to the failed investment scheme.
Her arrest followed petitions by aggrieved investors who lost hundreds of millions in the scheme.
Recall that the Security and Exchange Commission, SEC had frozen the company’s accounts for running an illegal financial investment scheme following a petition by a lawyer, Azubuike Ihemeje.
However, Yinusa had claimed after the company’s accounts restrictions that she was not owing any of her investors. Several persons who made deposits into the business disputed her claims. She subsequently deactivated her verified Facebook page and went incommunicado.
Yinusa who reappeared on Friday after 1 week of speculations, told her investors that she was ignorant of the legal requirements to operate such a business.
In a long apology letter, she said “It is rather unfortunate that we are at this point in what had been a seamless partnership, built on mutual trust, cooperation, and collective best interests. However, this is also one time we must, as partners and stakeholders in this business, hold our hands together, as we wade through this storm, believing strongly that we will come out victorious.
“I want to assure every…
