Female Company MD Disappears with millions of investors’ money

Female Company MD Disappears with millions of investors’ money

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… EFCC, Police helpless

By Achadu Gabriel, Kaduna

Barely two years after the closure of Famhzi Agro and Capital investment Company, also known as the famhzi interbiz, the managements are yet to pay investors their profits and capital as earlier promised.
The Chief Executive officer and Managing Director (CEO/MD) of the company, Hajiya Marian O. Suleiman who is currently at large had pledged serially to settled all the investors on or before the month of May 2021 but failed to fulfill her promise.

Investigation revealed that the money spinning Company was forced to shutdown in 2020 by the owner without paying investors their profits and capital, running into mult-millions of naira.
Majority of the victims’ investors who are widows, retirees and some other business men and women have been running from pillar to polls seeking for help from Police, EFCC and other relevant government agencies in vain.

Speaking to our Kaduna correspondent, a widow Mrs Margret Sunday and colleagues lamented that feeding, children school fees and rentage fees have become a nightmare due to non payment of their money trapped in the company for over a year and half.

Problems started gradually in 2019 when the company failed to pay profits to about Eleven thousand people who invested
between N50, 000 to N4milion each, in the company, as and when due.
The bubble bursted in April and July 2020, when the company situation grew worse and could no longer paid investors completely as a result of COVID-19 lockdown, a victims stated.
Earlier in February 2020, the MD of the company Haj. Maram Suleiman and other top management staffs told the investors that the company had money and promised to refund both profits and Capital after series of threats by investors due to the mass failure of payment of profits.

A victim, (name withheld), who allegedly invested millions in the company, attampted to commit suicide because of shock of news of non-payment of profits and capital.
But eyewitness sources said the victims later transfered his anger on the company and destroyed some properties and even threatened to attacks some staffs.
Findings also revealed that other victims investors had threatened to deal with the MD and other top management staffs severay, as a result of failure to pay their profits and capital promised them.

The company, located at No.15 Zone B, Madaki Lane, Byazine, in Kubwa, in Abuja, allegedly collected hundreds of millions of naira from interested investors over the years as capital investment through persuasion.
Our correpondent who visited the company reported that the MD and all other management staffs have deserted the company office to unknown destinations apparently due to the series of threats.

A company flier obtained by our repoter from victims stated that the organization was paying their investors and partners based on the duration of their Investments.
“Monthly investments will earn 20% plus your original capital less than 20% in the fouth months which is retained as registration fees. We also gives investors the benefit collecting their rewards in livestock”, it stated, among others.

A victim however revealed that their profits had dropped from 20% to 10% before the COVID-19 lockdown, alleging that company failure to pay profits, was not due to lack of business activities due to the pandemic alone.

Contactecd, an officer at Kubwa Byazin Police division confirmed that they had received several reports and noticed of threats by the company investors but said they were purely civil matters.

An investor who did not want her name in print said the company promised to payback capitals to investors but failed to meet up with their promise due lack of money.

Findings revealed that the company has built some edifice with the investors money within the areas, which provoked more reactions.

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