Favour Ekoh, a popular Enugu radio host, has been arrested by the Economic and Financial Crimes Commission (EFCC) for allegedly masterminding a ₦700 million Ponzi scheme.
Leverage Index Limited, the company behind the scheme, promised investors a 10% return on investment through "Life Trading." However, it closed its office without returning investments or principal amounts, defrauding around 50 victims.
Drama unfolded when EFCC operatives visited Urban Radio 94.5FM to question Ekoh. Staff members, allegedly acting on orders from the chairman, locked the operatives inside. A rescue team was deployed, leading to the arrest of the radio station's MD, Bamikole Owoyomi, and two security guards.
Ekoh was granted bail after cooperating with the EFCC. The commission has called on journalism regulatory bodies to investigate the radio station's conduct.
Can Favour Ekoh's reputation survive this shocking scandal?
