Internet fraud: EFCC arrests eight in Lagos

The Economic and Financial Crimes Commission, Lagos Zonal Office, has arrested eight suspected internet fraudsters, one of whom allegedly attempted to pay for a Sports Utility Vehicle worth N44m in Bitcoin.

Our correspondent learnt that one of the suspects, Tobiloba Ogundiyan, has been accused by the EFCC of committing online fraud and converting his loot to cryptocurrency.

An EFCC source said, “Ogundiyan acquired his wealth from internet fraud, layered it into a Bitcoin account and finally integrated it by approaching a car shop owner in Lekki to purchase a Range Rover Vela P380 2018 model worth N44m ($97,626 USD in Bitcoin) sometime in March 2021.”

Ogundiyan and seven others were arrested by the anti-graft agency on May 18, 2021, at River View Estate, Lekki, Lagos for alleged computer-related fraud.

The other suspects are Samson Afolabi, Adebayo Olumide, Daniel Akinwunmi, Moses Segun, Kelechi Felix, Adeleke Tofunmi, and Adewale Victor.

The suspects were said to have been found with exhibits including electronic gadgets, exotic cars, expensive jewellery, antiques, and so on.

The EFCC stated that, in the course of its investigation, it also discovered that apart from computer-related fraud, some of the suspects had completed the three stages of money laundering – placement, layering and integration.

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