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63 Years Old Canadian Scam 515 Nigerians With Fake Investment

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FOREIGN NEWS: 63 Years Old Canadian Scam 515 Nigerians With Fake Investment [New Foreign News] » Naijacrawl
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A Canadian named Charles DeBono, a 63-year-old Barrie, Ontario man who defrauded hundreds of investors out of millions of dollars will have to pay back $26.



9 million in restitution after he was handed a seven-year sentence today.

Approximately 515 people, mostly from Nigeria but also in Canada lost a combined $29 million, leading some to lose their life savings and retirement incomes between 2012 and 2017.

The fraudster introduce a 'point of sale investment' plan, a business that seem legit but turn out to be another ponzi scheme in disguise.

DeBono sold fake investments in a point-of-sale terminal ownership program in what police said was nothing more than a Ponzi scheme.

When banks started shutting him down in 2017, he fled to the Dominican Republic with millions of dollars as well as hundreds of thousands of dollars worth of cars and other assets.

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Piroll
 

Piroll is a creative writer, social-political commentator, socio-researcher, and sports analyst. He holds certificates in media management and data journalism from the Thomas Foundation Institute of Journalism. He works as a... Read More

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