Imagine Gold: Court Orders Bamise Ajetumobi and Wife to Pay Investors N18.8 Billion
- Ponzi scheme couple, Bamise Ajetumobi and his wife, Elizabeth, have been ordered by a high in Ikoyi to pay investors the sum of N18.8 billion
- The court said the couple who ran Imagine Gold should pay N15.5 billion from the first to 17th claimants and N3.3 billion to 19th-27th claimants
- Imagine Gold collapsed in 2021, much to the chagrin of investors who reportedly put over N11 billion in the scheme
A Lagos high court in Ikoyi has ordered Imagine Gold Ponzi scheme operators, Bamise Ajetumobi and his wife, Elizabeth to pay N18.8 billion with interest to 27 investors who were scammed by the couple.
Justice Oyekan-Abdullahi granted the reliefs sought by the plaintiffs. The court said the couple should pay the first to the 17th claimants’ lawyers the sum of N15.5 billion and the 18th to the 27th claimants, the sum of N3.3 billion.
Source: UGC
The CBN and the collapse of Imagine Gold
The judge dismissed all the objections filed by the couple and exited the Central Bank of Nigeria from the proceedings.
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According to the court, the couple intended to become a major lender by offering microloans to the unbanked, small and medium-sized companies and low-income workers throughout Africa and the rest of the globe and defaulted in the process, a Vanguard report said.
According to Nairametrics, the couple scammed investors and defrauded them of billions of naira. N11.795 billion was the outstanding investments and return on investments accruing to the claimants/applicants from the defendants.
The couple made headlines in 2021 when their investment platform collapsed and investors lost billions of naira in the process.
The beginning of fear
The investors became jittery when the return on their investments was not paid on time, prompting many of them to raise alarms both online and offline.
While it is not clear how much they lost, it is estimated that the couple defrauded them to the tune of N11 billion in both actual investments and interests.
Like Chinmark, investors cry out as another business owned by Ovaioza fails to pay
Legit.ng had reported that the CEO of Ovaioza Farm Produce Storage Business (OFPSB) was being called out on social media by myriads of people who said they invested millions into her buying and selling business but were scammed by the businesswoman.
Social media was awash with the news of Ovaioza scamming investors and sending fake alerts to them.
Some who spoke with Legit.ng disclosed that she picks up a fight with them at the slightest provocation and dares them to do their worst.
Source: Legit.ng
