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Tag: Police Special Fraud Unit

  • Police SFU arrests FinTech official over N90m insider ‘fraud’

    Police SFU arrests FinTech official over N90m insider ‘fraud’

    Detectives at the Police Special Fraud Unit (PSFU), Ikoyi, Lagos have arrested an employee of a digital financial services firm (FinTech) over alleged N90million insider fraud.

    The suspect, Saheed Samuel Bello, was arrested in Oye-Ekiti, Ekiti State for allegedly converting funds belonging to the firm for his personal use.

    In a statement, the spokesman for the PSFU, Deputy Superintendent of Police (DSP) Ovie Ewhubare, said Bello laundered the funds through accounts of relatives and friends to conceal the source, adding that his arrest followed painstaking investigation that cut across many states in the Southwest.

    The police said the suspect was arraigned before the Federal High Court, Ikoyi, for alleged conspiracy and money laundering.

    The police said: “Following a complaint by the affected company, operatives of the unit commenced investigation into the matter. Upon realising that his fraudulent activities had been uncovered, the suspect absconded from Lagos with members of his family to an unknown destination and cut off all means of communication in an attempt to evade justice.

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    “The investigation extended to several states in the SouthWestern part of the country and the suspect was eventually arrested at Oye-Ekiti Local Government Area of Ekiti State.

    “Further investigation showed that the suspect habitually laundered the proceeds of fraud through the bank accounts of friends and relatives to conceal the source of the funds.

    “While the suspect is facing trial, investigation is still ongoing to arrest other suspects involved in the crime.

    “The Commissioner of Police, PSFU, Kayode Ojapinwa, while reiterating the unit’s resolve to tackle financial crimes, he advised well-meaning Nigerians and corporate organisations to always engage in lawful transactions and strengthen internal control mechanisms, particularly in monitoring employees, to prevent insider abuses.”

  • PSFU arrests students, corps members over alleged fraud

    PSFU arrests students, corps members over alleged fraud

    The Police Special Fraud Unit has arrested eight students, four members of the National Youth Service Corps (NYSC), and two others over alleged fraud.

    The suspects between ages 18 and 28, were arrested on January 15 at Saapade in Ogun State, a statement by Police Public Relations Officer (PPRO), SP Johnson Eyitayo, said yesterday.

    He said student union leaders visited the Commissioner of Police in charge of the unit on Monday for a dialogue in respect of the arrest.

    According to Eyitayo, the delegation comprised leaders of the National Association of Nigerian Students (NANS), National Association of Polytechnic Students (NAPS), Association of Southern Nigerian Students (ASONIS) and GAPOSA Students Union Government.

    The PPRO said those arrested were suspected members of an internet fraud syndicate operating within Lagos and Ogun states, adding that the eight students were schooling at Gateway Polytechnic, Ogun State.

    He said the other two suspects claimed to be an artist and a cobbler.

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    “While addressing the concerns of the student union leaders, the Commissioner of Police emphasized the need for a sustained and robust synergy between members of NANS and the Police.

    “He encouraged the union leaders not to compromise in defending their mandate to protect the welfare/interest of their members, stressing that the union must ensure that bad eggs are not shielded but handed over to the Police.

    “The Commissioner of Police also advised the student union executives to educate their members to desist from cyber-crime which is tarnishing the country’s image and making it difficult for Nigeria to exit the Financial Action Task Force (FATF) grey list.

    “He enumerated the following as implications of Nigeria’s status on the FATF grey list: reduced foreign investment, increased cost of transactions, difficulties in transacting with other countries, increased regulatory scrutiny, loss of revenue for the government, undermining of financial markets, reduced cross-border transactions and loss of correspondent banking relationships among others…” Eyitayo said.

  • Journalists held over ‘bank extortion’

    Journalists held over ‘bank extortion’

    The Police Special Fraud Unit (PSFU) has confirmed the arrest and arraignment of four online journalists over alleged cyberstalking and attempted extortion of  GTbank.

    The PSFU confirmed the arrests in a statement yesterday by spokesman, SP Eyitayo Johnson.

    The Nation reports that the suspects identified as Precious Eze (Publisher/Editor-in-Chief, News Platform); Olawale Rotimi (Managing Director, National Monitor); Rowland Olonishuwa, (Editor, News Hob Mag!), and Seun Odunlami, (Website Administrator, www.newsjaunts.com) were arrested following a petition to the police by the bank.

    One of the suspects was apprehended in Ogun State, another in Kwara and two were picked up in Lagos.

    Already, the Ogun and Kwara chapters of the Nigerian Union of Journalists (NUJ) had condemned the arrest, describing it as a threat to press freedom.

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    According to the police, the arrests followed a discreet investigation of the petition addressed to the Commissioner of Police, PSFU,  by Country Hill Attorneys and Solicitors, representing the bank.

    “The investigation established allegations of cyberstalking and attempted extortion against the journalists who, while using their various online platforms, published false, malicious and defamatory news items targeted at the bank and its Group Executive Officer.

    “Furthermore, the journalists, having established contact with a staff member of the PR department of the bank, and despite being informed that the story is false; resorted to economic blackmail by demanding for financial compensation before the false publication could be pulled down,” Johnson stated.

    He said the Commissioner of Police, Ayotunde Omodeinde, while reacting to the development, advised media practitioners and users to be professionally mature in the use of their platforms; be mindful of the provisions of the Cybercrimes (Prohibition and Prevention, etc) Act 2015, and the Administration of the Criminal Justice Law.

    He counselled against publication of unsubstantiated/unverified/untrue news which could cause avoidable instability and financial damage to organisations/ businesses and individuals.

    Johnson said the suspects were remanded in the custody of the Nigerian Correctional Service (NCoS) till tomorrow when their bail application would be heard.