The Economic and Financial Crimes Commission (EFCC) has arrested some members of an alleged cyber-fraud syndicate with N326 million and $610,500 cash in Lagos and Abuja, Federal Capital Territory (FCT) respectively
Penpushing reports that, the commission in a statement by spokesman of the agency, Wilson Uwujaren on Tuesday said the syndicate included the Kogi State House of Assembly candidate of the New Nigeria Peoples Party (NNPP), Ismaila Atumeyi.
The statement explained that, Atumeyi was on October 30, 2022 arrested along with an alleged serial fraudster, Joshua Dominic, in a sting operation, at Macedonia Street, Queens Estate, Karsana, Gwarinpa, Abuja.
Penpushing further reports that, Uwujaren disclosed that, Atumeyi was arrested with the naira component of the funds and cash sum of $140,500, adding that the commission recovered $470,000 from Abdumalik Salau Femi, a former bank employee, in Lagos.
The statement added that Femi, who allegedly supplied inside information that facilitated a cyber-attack on a bank by the syndicate, was picked up on Tuesday at Radisson Blu Hotel in Lagos, explaining that after his arrest, a search warrant was conducted on his home in Morgan Estate, Ojodu where the money was said to have been recovered.
Penpushing also reports that, the statement emphasized that,the recovery brought the total amount of dollar components of the money recovered from the syndicate to $610,000, so far, while record has it that Atumeyi is seeking to represent Ankpa 11 Constituency in the Kogi State House of Assembly.
The statement explained that,the arrest of the suspects followed months of investigation into the hacking of one of the commercial banks by a syndicate of fraudsters who pulled off a heist of N1.4 billion.
Penpushing reports that, the agency accused the syndicate of moving N887 million into the account of Fav Oil and Gas Limited, from where the fund was disbursed to several Bureau de Change operators and some auto dealers for exchange into United States dollars and purchase of high-end cars.
The Economic and Financial Crimes Commission (EFCC) in the statement said the suspects will be charged to court as soon as the investigation is concluded, adding that, Dominic, a self-styled investment expert, had been previously arrested by the police for an alleged N2 billion investment scam.
Penpushing further reports that, the commission disclosed that, he defrauded over 500 persons in a phoney investment scheme on several time, and allegedly helped Atumeyi perfect the hacking plan through Abdumalik
“Dominic, who has severally (sic) been arrested for fraud, allegedly helped Atumeyi perfect the hacking plan through Abdumalik. Dominic, a self-styled investment expert and managing director of Brisk Capital Limited was arrested in May 2021 by the Special Fraud Unit of the Nigeria Police for an alleged N2billion investment scam. He allegedly defrauded over 500 persons in a phony investment scheme.
Penpushing also reports that, the commission disclosed that, two Range Rover Luxury SUVs were equally recovered from the two suspects arrested in Abuja, expressing concerns over rising spate of cyber-attacks on banks and the reluctance of the institutions to report such breaches to law enforcement.
The Economic and Financial Crimes Commission (EFCC) in the statement appealed to the various financial institutions to collaborate with it to secure the financial sector from threats of cyber-attacks and other fraudulent activities.
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