The Police Special Fraud Unit, Lagos, has arraigned a banker and seven other defendants before the Federal High Court in Lagos over an alleged N710m proof-of-funds fraud.
The defendants — Elvis Osazee Eghile, Egharevba MaryJane Osarieyekemwen, Precious Omonigho Irbhogbe, Aghatise Kelvin Uhuenkpoewen, Nweke Nnamdi Emmanuel, Obinyan Esther, Egharevba Emmanuel Osagioduwa and Emmanuel Obinyan Osenonome — were arraigned on a 12-count charge.
The PSFU disclosed this in a statement signed by its Public Relations Officer, DSP Ovie Kenneth Ewhubare, on Wednesday.
According to the police, the investigation followed a petition to the Commissioner of Police over the alleged fraudulent disbursement of N710m placed under Post-No-Debit restrictions across eight designated accounts.
The investigation reportedly revealed that Osenonome, a banker and Senior Relationship Officer, allegedly conspired with Egharevba Emmanuel to obtain the cooperation and personal identification details of other individuals. The details were allegedly used to facilitate the opening of accounts suspected to have been used to launder the proceeds of the crime.
The police said a forensic analysis conducted by the Corporate and Public Accounts Fraud Section of the PSFU traced significant movements of the suspected proceeds to accounts linked to individuals allegedly connected with the principal suspect.
Those identified included Nweke Nnamdi Emmanuel, Obinyan Ebehiemen Doris, a sibling of Osenonome, Egharevba Emmanuel Osagioduwa and Esther Olohitare Obinyan, Osenonome’s wife.
Further investigation allegedly revealed that forged or disputed proof-of-funds, indemnity and Post-No-Debit documents were used to facilitate the alleged fraud.
The police said assets suspected to have been acquired with the proceeds of the alleged crime were also identified and traced.
They included a 2020 Lexus RX 350 valued at N25m, two Toyota Camry vehicles valued at N8m each, and a plot of land in Magodo Phase I, Lagos, reportedly purchased for N40m.
The investigation further revealed that part of the suspected proceeds was allegedly used to meet personal financial obligations, fund gambling activities, invest N40m in CIBEX trading, and establish and operate a spa and beauty business reportedly furnished with about N60m.
The Commissioner of Police, PSFU, CP Eloho Edwin Okpoziakpo, reaffirmed the unit’s commitment to conducting thorough, professional and evidence-based investigations, particularly into complex financial transactions and suspected abuse of banking processes.
He said the unit would continue to pursue financial crimes through lawful investigative procedures and ensure that relevant evidence was properly obtained, documented and presented before a competent court.