He directed prospects to Instagram, Facebook and LinkedIn, and publications where he claimed to be a successful financial investor.
Joshua confessed to the crime but pleaded to be given time to return the money, SFU Commissioner, Anderson Bankole said in a statement.
The Police found the funds of over 500 investors were diverted to sponsor extravagant lifestyle, parties, exotic cars, luxury watches, real estates in Abuja, Lagos and Port-Harcourt.
“Some of the properties/items purchased with the diverted funds have been recovered as exhibits while the suspects will be charged to the Federal High Court as soon as the strike by Judiciary Staff Union of Nigeria (JUSUN) is called-off.”
The SFU cautioned Nigerians against investment and portfolio managers who promises high returns.