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EFCC Arrests Fraud Syndicate Members, Seizes ₦326m, $610,000 Cash, Two Range Rover SUVs
₦1.4 billion Bank Fraud : EFCC arrests Kogi assembly candidate, fraud syndicate members in a sting operation.
₦326 million and $610,500 Cash seized from Kogi State House of Assembly candidate, Ismaila Yusuf Atumeyi.
The anti-graft agency also recovered two Range Rover luxury SUVs from two suspects arrested in Abuja.
Syndicate allegedly sent stolen monies to some auto dealers for exchange into $US and purchase of high-end cars.
Suspects will be charged to court as soon as the investigation is concluded, according to the EFCC.
The Economic and Financial Crimes Commission (EFCC) has arrested the Kogi State House of Assembly candidate of the New Nigeria Peoples Party (NNPP), Ismaila Yusuf Atumeyi with ₦326 million and $140,500 cash.
Atumeyi who is seeking to represent Ankpa 11 Constituency in the Kogi State House of Assembly was arrested on Sunday, October 30, 2022. He was arrested alongside one Joshua Dominic, an alleged serial fraudster, in a sting operation at Macedonia Street, Queens Estate, Karsana, Gwarinpa, Abuja.
Also arrested in connection with the Fraud is Abdumalik Salau Femi, a former bank employee, who allegedly supplied the inside information that facilitated the attack on the bank by the syndicate.
Femi was picked up on November 1, 2022 at Radisson Blu Hotel in Lagos. Following his arrest, a search was conducted on his home in Morgan Estate, Ojodu where a total of $470,000 USD was recovered.
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 ₦1.4billion.
The syndicate allegedly moved N887 million into the account of Fav Oil and Gas limited, from where the monies were paid to several Bureau de Change operators and some auto dealers for exchange into United States Dollars and purchase of high-end cars.
Dominic, who has severally 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 alleged ₦2billion investment scam. He allegedly defrauded over 500 persons in a phony investment scheme.
Two Range Rover luxury SUVs were also recovered from the two suspects arrested in Abuja. They will be charged to court as soon as the investigation is concluded.
