Police rescue 20 victims held hostage by ponzi scheme syndicate, arrest suspects

The Ondo State Police Command says it has rescued 20 persons allegedly held hostage by a Ponzi scheme syndicate in the Oba-Ile area of Akure North Local Government Area.

Parading the suspect before journalists on Friday in Akure, the state commissioner of police, Wilfred Afolabi, disclosed that the victims were lured into a fraudulent investment platform known as “Quest International Company” under the guise of high returns on investment.

According to the police, the victims were subsequently coerced into paying N1.5 million each and instructed to refer two additional members to gain full access to the group’s supposed benefits. Once they were recruited, however, the victims were cut off from their families and detained against their will.

“On April 24, 2025, our surveillance team, through intelligence-led policing, tracked the victims to a residence in Oba-Ile where they were being held,” Afolabi said.

The police arrested one suspect, identified as Sakariya Sadiq, who is believed to be the ringleader of the syndicate. The rescued individuals include Rafiu Kehinde, Adebayo Nafisat, Mohammed Aishat, Jesujuwon Osuntoki, Mustapha Gbolahan, Ibukun Samuel, and several others.