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.
He claimed that his mistake wàs that he believed a stranger he met on-line and started introducing people to him. It was during the tracing of funds from Mr. Nebo’s accounts that it was discovered that he diverted part of the funds he collected from his victims to purchasing some plots at one of the estates being developed by Hymac Real Ltd, a leading real estate company in Enugu, using the name of his company, BISHTEC-SOFT CONSULT LIMITED.
The Commission promptly alerted Hymac that the payment made by Mr. Nebo to it was made from proceeds of his crime and directed Hymac not to release the plots of land to Mr. Nebo or his Company pending the conclusion of the investigation.
We learnt that due to unrelenting pressure from Mr. Nebo for either a refund of the N50,000,000 that he paid or a release of 12 plots of land to him, Hymac caused his lawyers to write formally to the Commission vide a letter dated 5 October 2022 requesting the Commission to confirm whether the commission had concluded investigation as alleged by Mr. Nebo to enable Hymac allocate the 12 plots of land, covered by the payment from Mr. Nebo to him or his company.
The Commission, which did not write a formal response to Hymac’s letter, merely invited the M.D. of Hymac to their office on 25 May 2023, to agree modalities of how Hymac should allocate the 12 plots to ensure that it counts towards the Commission’s recovery of funds for the victims of Mr. Nebo’s fraudulent scheme. Following their agreement on the modalities, Hymac promptly allocated the 12 plots in line with its agreement with the Commission.