Patricia Technologies Announces Plan to Repay Customers

After a corporate existence-threatening breach, Patricia Technologies Limited has given a new timeline of two to five years to pay back its customers. 

The pledge comes eight months after being denied access to their funds, Patricia’s customers might have to wait up to five years before receiving any form of repayment.

In an email sent to customers, the company said its repayment plan will take a minimum of two years and a maximum of five. This is while some customers say they’ve not been able to get access to their money for over a year before Patricia announced it suffered a hack.

For such customers, this brings their total wait time to three to six years.  Last year, the company announced it would start the first batch of payments to customers on November 20, 2023.

While it claims it has paid 24% of the customer owed, an email sent to customers revealed that they were required to create a video testimonial to confirm receipt of payment before they could get paid.

The company explained that “this added verification step is in place to enhance trust and ensure a secure process for everyone involved.”

Last year, sources at DLM Capital, — the company Patricia hired as an escrow for customer repayments — confirmed that Patricia had investors willing to help the company get back on its feet.

On November 23, 2023, Nigerian Police Force detailed the arrest of politician Wilfred Bonse in connection with a security breach and financial fraud at Patricia Technologies.

According to the NPF, the case revolves around criminal conspiracy, unauthorized computer and network data modification, and the illicit diversion of over 200 million Naira (approximately $246,153).

The investigation led to the arrest of Bonse, accused of laundering 50 million Naira ($61,538) from a total of 607 million Naira ($747,076) fraudulently diverted from Patricia Technologies. This diversion was facilitated through a cryptocurrency wallet. #Patricia Technologies Announces Plan to Repay Customers#

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