The Economic and Financial Crimes Commission (EFCC) has taken into custody Apostle Theophilus Oloche Ebonyi, the General Overseer of Faith On The Rock Ministry International, for his alleged involvement in a fraudulent scheme amounting to N1.3 billion, revolving around counterfeit grants and money laundering.
Apostle Ebonyi, the head of Theobarth Global Foundation, is accused of deceiving church members, non-governmental organizations (NGOs), and other individuals by falsely advertising an intervention project claiming to be affiliated with the Ford Foundation. The fraudulent project purportedly offered a grant of $20 million from the Ford Foundation to aid the less-privileged in society.
According to investigations by the EFCC, victims were convinced to subscribe to the fictitious grant by paying for registration forms and clusters, with each subscriber parting with N1.8 million. The total amount fraudulently obtained by Ebonyi through this scam is reported to be N1,319,040,274.31.
The EFCC findings revealed that there was no legitimate connection between Ebonyi and the Ford Foundation, as the Foundation explicitly disclaimed any association with him and Theobarth Global Foundation.
The Commission has also identified five properties allegedly acquired by Ebonyi using the proceeds from his criminal activities.
Despite his arrest, it is reported that Ebonyi continues to communicate with his subscribers through various social media platforms, promoting the false narrative of the Ford Foundation grant.
EFCC spokesperson Dele Oyewale announced on Monday in Abuja that charges will be filed against Ebonyi as soon as the ongoing investigations are completed.