UgamaTv and Coal City Connect dubiously reported that the managing director of Hymac Real Ltd was arrested by the EFCC in connection to a land fraud allegedly committed by the company.
However, reliable sources within the Commission informed that the reportage is a malicious representation of what happened.
The source informed us that what happened was merely the partial closing out of the Commission’s on-going investigation of Mr. Kingsley Nebo and his company, BISHTEC-SOFT CONSULT LIMITED, which started in 2020.
According to our source, who spoke on condition of anonymity, sometimes in 2020, Mr Kingsley Nebo and his long-time partner, Chinedu MARKSMAN (also known as Chimarks) started a fraudulent scheme known as DNG BOND INVESTMENT.
Mr. Nebo who fraudulently represented himself to the public as Coren certified civil engineer played the role of introducing his victims to the DNG BOND INVESTMENT purportedly run and owned by One Chinedu whom he represented as “an Igbo investment banker in HONG KONG whose mission was to leverage on his connection in Hong Kong financial market, New York forex markets and international Bond markets to make FOREX available to manufacturers, importers and investors in Igboland”.
Mr. Nebo, amongst other things, promised his victims a 50% return on investment monthly in perpetuity. He collected billions of naira from traders seeking Dollars for importation at a rate cheaper than CBN rate. But he and his partner, Chinmarks simply defrauded these unsuspecting traders of their hard-earned money, causing the traders to petition against him, first to the police and subsequently to EFCC.
Upon his arrest, Mr. Nebo claimed that he himself was a victim of Chinmarks and that he collected the billions of naira from the public on behalf of Chinmarks whom he denied ever meeting physically.