Recent developments have placed Afriq Arbitrage System Limited (AAS)—and its founder, Jesam Michael—under intense scrutiny. A wave of complaints from both local and foreign investors has sparked preliminary investigations by the Special Investigation Unit (SIU), Force Criminal Investigation Department (FCID), and the Force Intelligence Department (FID). Multiple sources indicate that Jesam Michael has refused to cooperate with the police, leading to growing suspicions about AAS’s legitimacy and Jesam Michael’s methods.
The SIU’s initial probe suggests no real high-frequency trading underpins AAS’s promised 1.65% daily returns. Instead, investor deposits—said to be made in cryptocurrency—are rapidly moved through various wallet addresses, obscuring the final recipients. Many victims say they invested significant sums but have been unable to withdraw either principal or returns for over 18 months.
Jesam Michael first attracted law enforcement attention when he reported that a former associate, Abayomi Segun Oluwasesan, had allegedly stolen $87 million from AAS. He tied this theft to his absence abroad for a purported liver transplant. However, investigators found no medical records supporting the claim. This contradiction casts doubt on Jesam Michaels reasons for granting “full system access” to another individual.
A related entity, Afriq Arbitrage LLC in Colorado, was officially dissolved on July 5, 2023. Yet, Jesam Michael continues promoting his platform as a global operation, further raising red flags about its current legal standing.
Multiple sources allege Jesam Michael runs a “killer squad”, tasked with silencing critics or potential whistleblowers who threaten to expose the platform’s inner workings. Ms. Josephine Andrew who Jesam Michael believes to be an insider, now faces alleged death threats. Jesam Michael reportedly accused her of leaking details about his fake transplant story, uncorroborated “trading platform”, and inflated figures tied to Abayomi Oluwasesan’s wrongdoing.
Despite numerous requests from the SIU, FCID and FID, Jesam Michael has ignored or evaded official summons. His continued absence has prompted investigators to intensify efforts aimed at unraveling any remaining layers of the alleged scheme.
Sources confirm that after several sting operations were conducted to track the flow of investors’ funds, Jesam Michael began making unfounded accusations against the SIU Commander and also accused the FID and FCID of harrasment and intimidation. One such allegation claims the Commander demanded “20 or 30 plots of land,” an assertion the SIU vehemently denies as “cheap blackmail” designed to derail ongoing investigations.
In a prior agreement following Abayomi Oluwasesan’s arrest, various properties—houses, cars, and land—were recovered. These were, alarmingly, transferred into Jesam Michael’s personal name instead of the company, raising serious questions about his intentions.
The Police authority strongly encourage all affected investors—in Nigeria and abroad—to come forward with investment records, screenshots of their AAS Dashboard, and other relevant documentation. Reports can be filed at the Special Investigation Unit, Force Headquarters, Abuja.
While Jesam Michael has publicly portrayed law enforcement inquiries as “harassment,” the FID, FCID and SIU counters that his repeated claims of being “untouchable” have no factual basis. Rather than supplying proof of genuine trading or medical evidence, Jesam Michael has filed for an injunction to stall investigative actions. The SIU, FCID amd FID underscores that its mandate is to safeguard citizens from fraudulent schemes.
Given the global reach of AAS and the considerable sums involved, the SIU, FID and FCID remain committed to conducting a comprehensive, fair, and methodical investigation.
Should Jesam Michael persist in ignoring summonses, the SIU, FCID, FID warns they will utilize every legal avenue to protect investors’ interests, including declaring him wanted.
The authorities continueto encourage victims to step forward, assuring them the the police will provide confidentiality and protection during the investigation.
Any form of intimidation or harassment toward officers—or further attempts by Jesam Michael to cast blame without furnishing evidence—will be met with resolute measures in line with the rule of law.
The unfolding story around Afriq Arbitrage System Limited and Jesam Michael has revealed multiple red flags: alleged Ponzi activities, false transplant claims, dissolved foreign entities, suspicious property transfers, and chilling accounts of a so-called “killer squad.” Despite Jesam Michael’s legal maneuvers and attempts at blackmail, official investigations are forging ahead.
The police urges all victims to muster the courage to present their evidence and remain vigilant. As the case unfolds, the primary objective is straightforward: ensuring that defrauded investors receive justice, and that no one is considered “untouchable” above the law.
Post a Comment