SwissGolden scammers arrested in Nigeria, $601,600 recovered
SwissGolden was a cycler Ponzi we here at BehindMLM reviewed back in 2014.
While the company traded in euro and represented it was operated out of the UK, British Virgin Islands and Hong Kong, turns out a Russian and two Nigerians were behind it.
Following the filing of a petition by thousands of SwissGolden victims, who claim to have lost over $2.7 million, Nigeria’s Economic and Financial Crimes Commission launched an investigation.
The investigation lead to the arrest of Maxim Lobaty, a Russian national and Austin Emenike and Dickson Nonso Onuchukwu, two Nigerians.
After being drilled at the commission’s Kano zonal office, Maxim and his co-suspects consented to the refund of the investment.
Subsequently, a total sum of N216,402,565.05 have now been recovered.
N216 million is about $601,600 USD, well short of the $2.7 million allegedly lost. But at least it’s something.
Alexa traffic estimates show a boom in activity on the SwissGolden website from late 2016 into 2017 – fueled by Nigeria
In July 2017, SwissGolden showed signs of collapse. Activity on the SwissGolden website went into decline continuing into 2018.
Authorities have pegged total losses of around 7,000 SwissGolden Nigerian investors at over N3 billion ($8.3 million USD).