Authorities of the EFCC say the suspects, Emmanuel and Victoria Jaiyeoba, who were arrested at their residence in Ibadan, Oyo State, are parents to Adewale Daniel, Marketing Director, Wales Kingdom Capital Limited.

According to a communique by the antigraft agency, the suspects, in complicity with their son, who is still at large, operate a Ponzi scheme in the guise of forex trading to defraud their unsuspecting victims.

Investigation revealed that Emmanuel, who is a Director in Wales Kingdom Capital, operates five bank accounts and had received a sum of N18, 397, 913. 67 before his arrest.

Further investigation also showed that the second suspect, Victoria, operates six bank accounts through which she received fraudulent transactions to the tune of N916, 607, 715. 48.

The suspects are expected to be charged to court soon.