Despite the incessant scam by owners of cooperative societies and ponzi schemes in Bayelsa, more residents of the state are still falling victims to it.
The latest is Oba’s Global Multi-purpose Cooperative Society Limited that has shut its doors against members after failing to meet its financial obligations.
Hundreds of members of Oba’s Cooperative Society on Sunday evening thronged the premises of the cooperative to close their investment accounts.
The Cooperative, which is into real estate, automobile, education and forex training, has failed to pay investors for two months and the owner, identified as Obasi Chukwudi, is nowhere to be found.
In an interview with Nigerdeltaconnect, some aggrieved investors revealed that the management told them to remit the original copies of their proof of investment on Sunday 22nd and Monday 23rd August in order to terminate their investment and get a refund.
An investor, Tokoni Owolo, who deposited over N2 million, said she and some other investors charged the owner to court in order to reclaim their money, which has not yielded results because he does not show up in court.
According to her, they went ahead and blocked his account that was when he called them and pleaded with them to unblock the account as he plans to pay with the funds in the account.
She said they agreed to his request, but as soon as they did, he withdrew everything in the account and has not been heard from, ever since.
She said she would not remit her original documents to terminate her investment because that is the only proof that she invested in the cooperative, saying a court of law will not honour a photocopy of the document.
She said: “He was supposed to pay since last month, he did not pay and no way to reach him, even the managers and workers called no way to reach him.
“When we blocked his account that was when he sent a voice call saying he went to Kenya for a business trip and he was quarantined and he could not reach out to anybody.
“I will not submit my original until I finish my court case with him, this man does not want to pay, he’s just decieving people”.
She lamented that she also invested in Baraza which has parked up as well, and called on the relevant agencies to check the activities of these multipurpose cooperatives as they are getting out of hand.
Another victim, Mr. John Obi said he invested N1.4 million and is at the premises to apply for termination because he has not been paid and it is long overdue.
“They are attending to people but the crowd is too much, it is a tug of war, you can’t enter that place. I’ve been here since 12 noon, we hope that they return our money as they said’, he stated.
On his part, Mr. Francis Ebi who invested over a hundred thousand naira said the cooperative has been functioning for less than a year and it is unfortunate that they have already run into problems.
He called on the management to attend to them and refund their monies as many of them have fallen victims to other cooperatives just like this and have lost a lot of money.
Efforts to reach the management as at the time of filing this report was not successful as they stopped receiving the documents and dispersed the crowd.