A Nigerian crypto billionaire, Linus Williams, popularly known as BLord has been arrested by the Nigerian police.
Blord was arrested in Abuja on Tuesday following allegations of cryptocurrency fraud, terrorism funding, and aiding internet fraud among others against his companies.
Many public opinion is that the businessman was arrested after a petition from, a popular influencer, Martin Otse, aka Verydarkman.
“It would be hard for Blord to be freed from this case,” Verydarkman had said in a social media post.
Police Reaction
The Nigeria Police Force has confirmed the arrest of a crypto billionaire BLord.
The Force spokesperson, Muyiwa Adejobi, said he was arrested due to complaints against his companies.
He promised that the police would thoroughly investigate the matter.
Adejobi said, “Yes, we have him with us. The FCID (NPF-NCCC) is currently investigating complaints lodged against Blord Group, Blord Real Estate Ltd, Blord Jetpaye Limited, and Billpoint Technology.
“These offences include allegations of cryptocurrency fraud, aiding internet fraud, computer-related fraud, terrorism funding, and non-compliance with regulatory frameworks.
“We will do due diligence in our investigation. Our cyberspace must be safe and secure by all means. We are committed to achieving that.”
Is Crypto legal in Nigeria?
Nigeria, Africa’s largest economy, is also recognised as one of the world’s significant cryptocurrency markets. While cryptocurrencies are not illegal in Nigeria, companies must register to operate within the country.
Recent developments have been shaped by the Nigerian government’s charges of tax evasion against Binance, the world’s largest cryptocurrency exchange platform.
The government has demanded $10 billion in penalties from Binance, alleging that the platform manipulated exchange rates, leading to substantial economic losses.
This speculation is believed to have contributed to a nearly 70% depreciation of the Naira in recent months.
Who is Blord?
Blord is a Nigerian businessman who is into cryptocurrency trading and has millions of followers on social media.
He is the founder of the Blord Group of Companies.
Blord Group of Companies has various ventures like cryptocurrency trading, gadget stores, luxury stores, automobile dealerships, and real estate investments. In April 2013, he launched the BillPoint mobile app, a financial services company.
The popular businessman has over 3.4 million followers on Instagram, which he usually uses to promote his businesses and lifestyle.
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