Nigerian billionaire Aliko Dangote and the Dangote Group have been exonerated from a fraudulent investment scheme circulating online, featuring a video of Dangote that falsely claims his endorsement of a plan promising to turn $250 into $1,200.
The conglomerate proactively stated in a statement issued on Tuesday, March 18, that the public should steer clear of any advertisements from such brands, as they are fraudulent practices aimed at scamming unsuspecting clients.
“Our attention has been drawn to a fake video. We urge the public to disregard and ignore these fraudulent adverts to avoid falling victim to scammers.” The company stressed that it is not affiliated with any such investment programs and will not be liable for any losses incurred by victims of the scam.
A supplementary notification was sent further emphasizing the non-affiliation of the conglomerate with the said fraudsters.
“The Dangote Group is not responsible for any losses or claims linked to these scammers. Please disregard these fake adverts.”
The Dangote Group hinted that this is not the first time fake investment schemes have resorted to using the billionaire’s videos and images to provide prima facie evidence of credibility to unsuspecting clients, compelling them to invest massively in the Ponzi scheme.
The group has, however, distanced itself from possible repercussions for potential investors who proceed with their investment plans involving the Ponzi schemers.
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