28th September, 2010
The Police Command in Katsina State has arrested the Manager of Trend Spin Resource Limited, Mr Kenechi Edward for allegedly fleeing with investors’ N100 million.
Parading the suspect in Katsina on Monday, the Police Commissioner, Alhaji Sabo Ringim said the suspect was apprehended in Lagos following a tip-off.
He said the suspect, who established the company in Katsina in February, persuaded people to invest in it to enable them to obtain 70 per cent interest on their investments.
“Consequently, people invested their money with the hope of realising the interest, but the management of the company suddenly disappeared into thin air.
“Immediately the report got to us, we swung into action and tracked him down,“ he said.
Also paraded were four suspected car snatchers, a suspected rapist and 12 suspected armed robbers said to have operated on Malumfashi-Funtua road.
Ringim said some of the items recovered from the suspects included a Toyota car, two locally-made guns, six machetes, sticks, axes and pinchers as well as a mobile phone, among others.
The commissioner said that as soon as the police concluded its investigations, the suspects would be charged to court.