86 FBTL and Alleged N42 billion Ponzi Scheme

One Adebayo Adedoyin and 2 other plaintiffs on behalf of 43 others, filed a suit at the Federal High Court in Yenagoa, Bayelsa to restrain the betting company called, 86 Football Technology Limited (86 FB) from accessing the funds in its accounts for an alleged Ponzi scheme.

The suit also joined Bet 86 FB’s payment gateway providers; Flutterwave Technology Solutions Limited, Paystack Payment Limited, Monnify Financial Investment Limited and Interswitch Limited as respondents.

has granted an ex-parte order restraining a betting firm, 86 Football Monnify Financial Investment Limited and Interswitch Limited from tampering with funds of investors in their coffers.

The suit also cited First Bank, Keystone Bank and the Economic and Financial Crimes Commission as respondents. EFCC was joined in the suit to investigate the activities of 86 Football Technology which is alleged to have defrauded Nigerian investors, to the tune of N42 billion Naira, through their scheme.

The Federal High Court sitting in Yenogoa has now granted an ex-parte order restraining 86 FB from tampering with the funds as prayed by the plaintiffs.

 

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