The lynchpin of Inksnation, one of Nigeriaâ€™s biggest crypto Ponzi Schemes, Omotade-Sparks Amos Sewanu, has been captured. According to Nigeriaâ€™s Economic and Financial Crime Commission (EFCC), Sewanu, who was on the run, was nabbed in Sokoto, a city located in the northwest part of the country. Still, in its May 28 Twitter statement, the EFCC said it would provide details on Sewanuâ€™s capture later.
End of the Run
The capture of the Inksnation creator comes a few months after the EFCCâ€™s publication of a notice that asked for the Nigerian publicâ€™s help in locating him. At the time of the noticeâ€™s release, EFCC said it placed Sewanu on its wanted list for various offences which included â€œname dropping and fraud.â€
However, in addition to these charges, the anti-graft body also said Sewanu was wanted for his involvement in the creation as well as the distribution of the Pinkcoin, an elaborate Ponzi that is packaged as a cryptocurrency. As previously reported by Bitcoin.com News, Sewanuâ€™s Pinkcoin had already been flagged by Nigeriaâ€™s Securities and Exchange Commission.
Meanwhile, Sewanuâ€™s arrest is now likely to trigger the collapse of a Ponzi scheme that many in Nigeriaâ€™s crypto space labelled a scam. However, despite the many warnings as well as the capture of Sewanu, few supporters of Sewanu are still defending his â€œinnovation.â€
Mixed Reaction to Sewanuâ€™s Capture
For instance, one Twitter user named Crown expresses their exasperation with what he sees as Nigeriaâ€™s knack for destroying useful innovations. In a reply to the EFCCâ€™s tweet, Crown said:
However, the majority of users commended the EFCC for capturing Sewanu while some are asking the anti-graft body to go after other scammers that have similarly defrauded thousands of people. Meanwhile, at the time of writing, the EFCC had still not shared details of the capture.
What is your reaction to Sewanuâ€™s capture? Tell us what you think in the comments section below.
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