The Police Special Fraud Unit (PSFU), Lagos, has arraigned one Casmir Chineneyeze Nwankwo ‘m’ before the Federal High Court, Lagos on multiple count charges bordering on obtaining money by false pretense and money laundering involving the sum of $55,000 (approximately N88 million).
The arraignment of the defendant followed a painstaking probe conducted by the Cyber and Advance Fee Fraud Section of the Unit.
This was pursuant to a petition received from a technology company alleging that the defendant fraudulently obtained the said sum from the company under false pretences.
Investigations revealed that the suspect dishonestly induced the complainant to part with the funds, which were subsequently diverted and converted to his personal use.
The PSFU Police Public Relations Officer and a Deputy Superintendent of Police, DSP Ovie Kenneth Ewhubare, revealed this in a statement on Friday.
“Leveraging its digital forensic and financial investigative capabilities, operatives of the Police Special Fraud Unit extended the investigation to several bank accounts linked to the defendant, where proceeds of the alleged crime were traced and uncovered.
“The findings further established a deliberate attempt to conceal and dissipate the fraud proceeds through various financial channels, thereby necessitating his prosecution before the court,” Ewhubare stated.
Reacting to the development, the Commissioner of Police, Police Special Fraud Unit, Lagos, CP Eloho Edwin Okpoziakpo, urged members of the public and corporate organisations to promptly report all cases of fraud and suspicious financial transactions to the Police.
He noted that timely reporting remains a critical factor in successful investigations, as it greatly enhances the ability of investigators to trace fraud proceeds, preserve vital digital and financial evidence, and prevent suspects from dissipating or concealing illicit funds.
The Commissioner further stated that early engagement with law enforcement not only improves the chances of recovery but also contributes significantly to bringing perpetrators to justice.
He assured the public of the Unit’s readiness to respond professionally and diligently to all reported cases of fraud and financial crimes.
