Investors Warned Against Reliance Other Fraudulent Schemes Using The Name Of Islam

By Gbogboelola Jubril

A group of victims of Reliance 360 and its affiliated companies have warned the Nigerian Muslim community and the larger Nigerian citizens to be mindful and wary of criminal investment schemes masquerading as shariah compliant investments which are no more than self enriching schemes to facilitate lavish life styles for the managers of the investment as seen in Abdullahi Abubakar Ogli , Abdulrahman Ahmad, Raula Garba (Mrs)and Abubakar Umar, among others, whom the investors accuse of using their money to engage in lavish life styles such as acquiring property and embarking on expensive foreign travels.

The spokesperson of the group Mallam Jibrin Raji noted that the victims who feel defrauded include students, civil servants, shop owners, widows and non Muslims all of whom believe in ethical investment.

The spokesperson noted that the group had been on endles negotiations with the people holding on to their money which sum into hundreds of millions of naira said its close to three months now since they began negotiations after the so-called islamic investment agency refused to give them neither their Return on Investment nor their capital for close to a year now.

He noted that Reliance has again promised to commence payment in batches at the end of May as agreed only to come up with excuses and conditions on the very last day of May.

The spokesperson noted that instead of paying investors, the managers of Reliance investment, Reliance 360 and Reliance Cooperative prefer to lavish hard-earned money of investors on frivolous lifestyles and abuse of the Nigerian legal and judicial systems through lawyers without scruples.

He however noted that the management of Reliance can only prove the groups accusations wrong by paying capital and ROI to the people who entrusted them with their money as from this moment