Operatives of the Lagos Zonal office of the Economic and Financial Crimes Commission (EFCC) has arrested a couple for allegedly defrauding unsuspecting victims in a N935 Ponzi scheme.

The couple; Emmanuel and Victoria Jaiyeoba were arrested at their residence in Ibadan, Oyo State.

According to the couple, they connived with their son to operate a Ponzi scheme in the guise of forex trading to defraud unsuspecting victims.

An investigation disclosed that Emmanuel, who is a Director in Wales Kingdom Capital, operates five bank accounts and had received a sum of N18,397,913.67 before his arrest.

Further investigation also indicated that Victoria also operates six bank accounts through which she received fraudulent transactions to the tune of N916,607,715.48.