Police arrest two in N713.9m fraud syndicate case
The Nigeria Police Force has uncovered a major fraud syndicate accused of diverting over N713.9 million from customers’ accounts. According to Force spokesman Anthony Placid, the Police Special Fraud Unit used advanced digital forensic techniques to investigate the case. Two suspects, Oguntoyinbo Olawale and Kazeem Omokayode, have been arrested, while a third suspect, a Chinese national named Linda, remains at large. The syndicate allegedly used stolen identification details to open multiple accounts and launder the stolen funds.
What happened
- The Police Special Fraud Unit uncovered a syndicate that diverted over N713.9 million from customers’ accounts.
- The investigation began after a financial institution reported unauthorised debits linked to a third-party platform.
- Oguntoyinbo Olawale and Kazeem Omokayode were arrested, while Linda, a Chinese national, is still at large.
- The group allegedly used stolen Bank Verification Numbers and other credentials to open multiple accounts for laundering.
- The suspects in custody will be arraigned in court, and efforts continue to apprehend other syndicate members.
