Musa Diallo (pseudonym), a resident of Plateau State, has accused Pelumi Akinsete, the founder of Gabsyn Peyzs, of withholding N26 million in unpaid returns and capital from his investment.
Diallo told FIJ that Akinsete had made several promises to return his money since 2023 but failed to do so on the said dates.
He explained that his journey with Gabsyn Peyzs began in August 2017 when his account officer introduced him to Akinsete. According to Diallo, his account officer explained that he would get a four per cent return on investment monthly if he invested with Akinsete’s Gabsyn Peyzs.
“He said it was like a cooperative where they give money to market women at some percentage and promised me a four per cent RoI monthly. I wasn’t convinced initially, but after I invested N4 million and received my first RoI, I trusted him,” Diallo told FIJ.
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Diallo said he invested an additional N10 million in September 2017 after receiving his first RoI. And by 2018, his total investment had grown to N30 million. He would later withdraw N4 million at some point, but continued to reinvest as the RoI was consistent until things took a different turn.
Diallo said his nightmare with Akinsete began in 2020 when he requested a refund of his capital. Akinsete had told him he wanted to start a microfinance bank and proposed using his investments as equity for its establishment. However, Diallo rejected the idea and instead requested his money, but he didn’t get it.
Debits from the source’s statement of account showing when he paid Akinsete
“Around this time, the RoI payments stopped coming in regularly. This happened until August 2022, so I refused to sign any contract with him then regarding the microfinance bank idea. But in 2022, he said he had rolled over my money even when I didn’t consent to it,” Diallo said.
“I told him I didn’t want any business with his organisation and asked him to return my money. Another investor said the only way he’d invest in his bank idea was if he’d allow us to audit his account. He agreed but refused to release his books when he requested them.”
An MoU between Diallo and Akinsete’s firm
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Diallo said after repeatedly requesting his N26 million from Akinsete, he promised that if he sold his property in Surulere, he’d pay him.
“When he sold it, he didn’t repay me, and I found out myself. When I went to his office, he wasn’t around. I have asked him to borrow from his microfinance bank to give me my money, but he said they operated under different entities,” he said.
“From 2023 until now, he has been making promises to return my capital, but nothing has been done. I left my job in 2017 to focus on investments, but this situation has strained me financially.”
When FIJ called Akinsete, his line did not connect. His response to the follow-up text from FIJ was, “Smooth Criminal: I guess this is an attempt to hack a WhatsApp account.”
The post Pelumi Akinsete of Gabsyn Peyzs Withholds Investor’s N26m for 2 Years appeared first on Foundation For Investigative Journalism.