Inks Nation: Fleeing Ponzi scheme operator, Omotade-Sparks Amos Sewanu, arrested months after he was declared wanted by EFCC

Operatives of the Economic and Financial Crimes Commission in Sokoto have arrested Omotade-Sparks Amos Sewanu, operator of the Ponzi Scheme.


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Omotade-Sparks who hails from Badagry Lagos was declared wanted by the EFCC in November 2020 after efforts to apprehend him failed. He is the alleged mastermind of a huge pyramid investment scheme through which many citizens were defrauded of monies to the tune of over Thirty-Two Million Naira.

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Omotade-Sparks had allegedly floated a phony online digital currency called “Pinkoin” which lured unsuspecting members of the public to invest between One Thousand Naira to One Hundred Thousand Naira with a promise of unrealistic returns and went ahead to distribute a payment card called “Pink Card” to further confuse his victims. Omotade-Sparks is accused of making false claims that he was in partnership with the EFCC to persuade people to invest in his devious scheme.

Omotade-Sparks was not licensed to operate a financial institution.

A statement released by the antigraft agency says he was finally arrested on Thursday, May 27, 2021, and has made a useful statement.

He is to be arraigned in court as soon as the investigation is completed.

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