The boss of Inksnation Omotade Sparks Amos
Sewanu has landed in serious trouble over
alleged fraud totallying N32 million.
He has been declared wanted by the Economic
and Financial Crimes Commission.
A report by BusinessDay estimated that “nearly
200,000 Nigerians – with over 5,000 people
active, daily – still claim membership of a
Telegram group created by InksNation.”
According to reports, Omotade-Sparks Amos
Sewanu is wanted for an alleged fraud worth
N32 million while floating a digital currency
called “Pinkoin.”
Omotade Sparks is the owner of iBSmartify
Nigeria, Inventor of the “the World’s First
Philanthropic Blockchain (InksLedger) and the
World’s First Charitable Trust DAO (InksNation)
which can end poverty in any country in less
than 9 months incentivising goodness,
promoting love, unity, oneness, peace and
equitable distribution of wealth also invented
the world’s first Reserve Cryptocurrency called
PinKoin, Africa’s first QR Debit Card called
PinKard and lots more.
In a Press Release in The Nation Newspaper
dated the 11th of November 2020, The
Economic and Financial Crimes Commission
declared the founder Omotade-Sparks Amos
Sewan wanted for series of financial frauds.
“The Public is hereby notified that Omotade-
Sparks Amos Sewanu of Inksnation whose
photograph appears above is wanted by the
Economic and Financial Crimes Commission
EFCC in a case bordering on obtaining by false
pretense, names Dropping and Fraud to the
tune of thirty Two million Naira Only
(32,000,000) while claiming to have floated an
online digital currency called “Pinkoin“.
“Sewanu is a native of Badagry in Lagos, he is
about 1.6 metres in height, fair complexioned,
dark hair, brown iris and dark eyebrow.”
“His last known address is No 19, Posukoh
Quarters, Via Joseph Dosu way Badagry, Lagos
state.”
Although the Securities and Exchange
Commission of Nigeria has fore classified the
activities of Inksnation Illegal and fraudulent in
a press release dated 26/06/202. SEC said,
The attention of the Commission has been
drawn to the activities of iBSmartify Nigeria the
promoters of a Blockchain known as iBledger
(iBcashcryptocurrency) and InksNation.
“The general public is hereby advised that
neither the promoters of iBSmartify Nigeria nor
the illegal products they offer are registered or
regulated by the Commission.”
“In view of the above, the general public is
hereby WARNED that any person dealing with
the said entity and others in the same business
in any manner whatsoever, does so at his/her
own risk.”
The Stakeholders in Blockchain Technology
Association of Nigeria (SIBAN) in June labelled
InksNation’s purported crypto coin, Pinkoin, a
scam.
SIBAN warned that “members of the blockchain
community and the general public should
beware of the InksNation project.
“We have labelled it a scam because it has a
Ponzi scheme model, whether the promoters
and followers concede to this reality or not.
“Sooner or later, the promoters and their
followers will come to realise this, if they do
not already do,” the association said.
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