Afriq Arbitrage System (AAS), a well-known digital investment platform, has firmly denied recent allegations circulating online about its Founder and CEO, Mr. Jesam Michael, stating that the claims are baseless and misleading.
In an official statement released on Tuesday, the company emphasized that Mr. Michael has not committed any financial misconduct, contrary to narratives trending on social media.
“We at Afriq Arbitrage System feel compelled to address and correct recent false narratives about our Founder and CEO, Mr. Jesam Michael,” the statement read.
The company explained that the actual financial irregularities were perpetrated by Mr. Abayomi Oluwasesan, a former staff member, whose actions disrupted AAS operations in late 2023.
According to the statement, Mr. Abayomi publicly admitted to the misappropriation of funds during a live “Ask Me Anything” (AMA) session with investors in November 2023. The confession, which is still available on video, was accompanied by a formal apology to the AAS community.
“Mr. Abayomi publicly admitted to his actions and took responsibility before our global investor audience. This remains a matter of public record,” the company reiterated.
Despite this public confession, AAS expressed concern that some individuals are now attempting to shift blame onto Mr. Michael for ulterior motives.
“To be clear: Afriq Arbitrage System and Mr. Jesam Michael are the complainants in this case, not the accused,” the company clarified.
AAS confirmed it had officially reported the matter to law enforcement and has fully cooperated with ongoing investigations. It described any claims implicating Mr. Michael as “unfounded and legally misleading.”
The company called on media organizations and the public to rely on verifiable facts such as official filings, video footage, and public statements—rather than misinformation propagated online.
“We encourage everyone to focus on the available evidence: video confessions, written apologies, and formal reports, rather than one-sided accounts serving private interests,” it stated.
Despite the controversy, AAS reaffirmed its commitment to ethical operations, innovation, and investor trust.
“We are not distracted. Our mission remains unchanged—to serve our global investor community with integrity and value,” the statement affirmed.
The company also expressed gratitude to its stakeholders for their continued support during what it described as a difficult period.
“We deeply appreciate our supporters who stand with us in truth and progress,” the company concluded.
Abayomi Oluwasesan pls return our sweat. Alot of people has died because of how Abayomi the theif stole AAS money. The evidence is out every where. EFCC please do the needful. Let us have hope in you guys to act accordingly and jail the thief called Abayomi who’s busy walking freel. The Nigerian Court System should justify this case so we can have hope again in Nigerian Judiciary System please. #Free_Jasem_Michael
Please release Jesam Micheal he is innocent and arrest Abayomi Segun Oluwasesan he is the real criminal,he stole our funds and he is now using it to bribe authorities.
Please let justice prevail on this matter,CEO Jesam Micheal has reported this case to EFCC when Abayomi Segun Oluwasesan stole these funds but they did nothing,now they have arrested the victim and the criminal is walking freely with our hard earned money..
God will judge the EFCC for this act.
Abayomi Olusesan stole $87million from AAS Trading platform when his boss Jesam Michael was indispensable and went for treatment. Abayomi made confession of stealing Investors funds during the absence of Jesam Michael. We need justice for Jesam Michael, we demand justice for AAS and all AAS investors worldwide. Abayomi, Return our money!!!
Jesam Michael reported that Abayomi Oluwasesan his former staff member stole $87 million from his company. Rather than investigate and bring the alleged thief to justice, the EFCC has instead turned its attention to Jesam himself. They falsely claimed that over 50,000 investors were against Jesam Michael and used that as a reason to deny him bail. This claim is completely untrue.
What is happening to Jesam Michael is a clear example of injustice in Nigeria. Where a victim is made the accused, and the real criminals go free. It is time for EFCC and other authorities to stop chasing shadows and focus on the truth.