The Economic and Financial Crimes Commission(EFCC) has sealed the office of First Group, a property firm based in Dubai, United Arab Emirates(UAE) over alleged $200bn scam.
According to the anti-graft agency , the 7th firm office located at the Bank of Industry building in Central Business District was shut because it was implicated in what they called ‘phony’ real estate scam.
The firm is also allegedly involved in the purchase of property in Dubai for the current Chief of Army Staff Tukur Burutai
The commission said the company is wickedly fleecing innocent Nigerians of their hard earned money.
“As part of the ongoing probe of the laundering of over $200billion loot in the United Arab Emirates (UAE) by former political office holders, operatives of the EFCC today, July 13th 2016, stormed the office of a Dubai property firm, The First Group Company, in Abuja,”
“The company is also being investigated for allegedly defrauding unsuspecting Nigerians by luring them to invest in real estate in Dubai.
“The modus operandi of the company is to lure innocent Nigerians interested in owning properties in Dubai, into parting with their hard –earned money.
“They are mandated to make the payment in installments, however, the payment is structured in such a way that the debt is difficult to offset, and as soon as one defaults the money will be seized by the company.