Massive Arrest: EFCC Takes Down International Fraud Syndicate
In a groundbreaking operation, the Economic and Financial Crimes Commission (EFCC) has arrested 792 suspects, including foreign nationals, for their alleged involvement in cryptocurrency investment fraud and romance scams.
The Sting Operation
The suspects were arrested during a surprise raid on December 10, 2024, at the Big Leaf Building, a seven-storey edifice located at No. 7, Oyin Jolayemi Street, Victoria Island, Lagos. The building served as a training ground for Nigerian accomplices recruited by the foreign kingpins.
The International Connection
Among those arrested were 148 Chinese nationals, 40 Filipinos, two Kharzartans, one Pakistani, and one Indonesian. The EFCC Chairman, Ola Olukoyede, revealed that the suspects used a purported online investment platform to lure victims into fraudulent investment schemes.
The Modus Operandi
According to Olukoyede, the suspects would promise unsuspecting victims mouth-watering returns on investments in cryptocurrency. The platform required an activation fee of $35 USD for interested investors. Once the victims made the payment, the suspects would disappear with the money.
Recovery of Items
During the raid, the EFCC recovered several items, including:
- Desktop computers
- Mobile phones
- Laptops
- Cars
Investigations Ongoing
The EFCC has launched a thorough investigation into the extent of the scam and its international connections. The Commission is working closely with international law enforcement agencies to unravel the complexities of the scam and bring the perpetrators to justice.
The EFCC’s operation has sent a strong message to fraudsters that Nigeria is no longer a safe haven for their illicit activities. The Commission’s efforts to combat cybercrime and other forms of financial fraud are yielding results, and Nigerians can be assured that the EFCC will continue to work tirelessly to protect them from these scams.
