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EFCC operatives
After many months of investigating the
atrocities allegedly committed by the First
Group, a property firm said to be based in
Dubai, United Arab Emirate, the Economic and
Financial Crimes Commission, EFCC,
yesterday, closed down the Abuja Office of the
entity, accusing it of fleecing unsuspecting
Nigerians to the tune of $200 billion.
The sealed office of the company is located
on the 7th floor of Bank of Industry Building in
the Central Business District, Abuja.
A top source in EFCC said the firm was shut
because it was implicated in what it called
‘phony real estate scam in which innocent
Nigerians were duped to the tune of $200
billion.
According to the anti-graft agency, it is as a
result of the scam that the commission raided
the Abuja office in May this year as part of its
investigations into the alleged large-scale
fraud perpetrated by the Group.
“Investigations into the scam revealed that the
company originally known as TFG Real Estate
Limited operates in Nigeria in the guise of
being The First Group Company, a Dubai-based
real estate firm, which is not registered in
Nigeria.
“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
instalments; however, the payment is
deliberately 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.
“The company is implicated in a phony real
estate scam in which innocent Nigerians were
duped to the tune of $200 billion.
“EFCC operatives had in May 2016 raided the
office as part of investigations in the alleged
property fraud. Several implicating documents
were discovered, including a list of high profile
patrons,” the source said.
Attempts to get reaction from the corporate
headquarters of the firm in Dubai were
unsuccessful as the office claimed ignorance
of sealing of the property in Abuja. The office,
which was contacted by Vanguard around
6p.m. on ++971 4 455 0282, said they would,
however, get in touch with our correspondent
in future date in order to respond to the
development.
A message on the TFG website claims, among
other things, that: “When you invest in property
with The First Group, our promise is to provide
you with much more than amazing real estate
and lucrative returns.
“Ownership with us gives you instant
membership to our prestigious club and
access to a world of exciting rewards and
privileges, from cash returns and investment
property credit to fully paid Dubai holidays. We
invite you to discover more about these
outstanding benefits, created exclusively for
our owners.
“As a property owner with The First Group, you
are our top priority. Our commitment to you is
to ensure you enjoy a superior level of service
that goes above and beyond simply buying an
amazing property in Dubai.
“This is why we have created a specialised
company, The First Group Asset Management,
to look after every aspect of your finished
investment property.
“Their highly skilled team of industry
specialists have an impressive track record
spanning decades of experience in the global
hotel and property market. Our property
investors can rest assured that they are in
expert hands. All you need to do is sit back
and enjoy the rewards of a truly effortless
investment.”
Source: Vanguard ngr
Connect with me on Linkedin
Like this blog Facebook page
BB-Pin 5C1AD7E1
Follow @instagram
EFCC operatives
After many months of investigating the
atrocities allegedly committed by the First
Group, a property firm said to be based in
Dubai, United Arab Emirate, the Economic and
Financial Crimes Commission, EFCC,
yesterday, closed down the Abuja Office of the
entity, accusing it of fleecing unsuspecting
Nigerians to the tune of $200 billion.
The sealed office of the company is located
on the 7th floor of Bank of Industry Building in
the Central Business District, Abuja.
A top source in EFCC said the firm was shut
because it was implicated in what it called
‘phony real estate scam in which innocent
Nigerians were duped to the tune of $200
billion.
According to the anti-graft agency, it is as a
result of the scam that the commission raided
the Abuja office in May this year as part of its
investigations into the alleged large-scale
fraud perpetrated by the Group.
“Investigations into the scam revealed that the
company originally known as TFG Real Estate
Limited operates in Nigeria in the guise of
being The First Group Company, a Dubai-based
real estate firm, which is not registered in
Nigeria.
“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
instalments; however, the payment is
deliberately 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.
“The company is implicated in a phony real
estate scam in which innocent Nigerians were
duped to the tune of $200 billion.
“EFCC operatives had in May 2016 raided the
office as part of investigations in the alleged
property fraud. Several implicating documents
were discovered, including a list of high profile
patrons,” the source said.
Attempts to get reaction from the corporate
headquarters of the firm in Dubai were
unsuccessful as the office claimed ignorance
of sealing of the property in Abuja. The office,
which was contacted by Vanguard around
6p.m. on ++971 4 455 0282, said they would,
however, get in touch with our correspondent
in future date in order to respond to the
development.
A message on the TFG website claims, among
other things, that: “When you invest in property
with The First Group, our promise is to provide
you with much more than amazing real estate
and lucrative returns.
“Ownership with us gives you instant
membership to our prestigious club and
access to a world of exciting rewards and
privileges, from cash returns and investment
property credit to fully paid Dubai holidays. We
invite you to discover more about these
outstanding benefits, created exclusively for
our owners.
“As a property owner with The First Group, you
are our top priority. Our commitment to you is
to ensure you enjoy a superior level of service
that goes above and beyond simply buying an
amazing property in Dubai.
“This is why we have created a specialised
company, The First Group Asset Management,
to look after every aspect of your finished
investment property.
“Their highly skilled team of industry
specialists have an impressive track record
spanning decades of experience in the global
hotel and property market. Our property
investors can rest assured that they are in
expert hands. All you need to do is sit back
and enjoy the rewards of a truly effortless
investment.”
Source: Vanguard ngr
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