The Police Special Fraud Unit (PSFU), Ikoyi-Lagos, has arraigned eight suspects over their alleged involvement in a N710 million Proof-of-Funds fraud, recovering vehicles and other assets suspected to be proceeds of the crime.
The suspects – 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 before the Federal High Court, Lagos.
According to the PSFU, investigation commenced following a petition to the Commissioner of Police over the fraudulent disbursement of N710 million placed on Post-No-Debit into eight designated accounts.
Investigations revealed that Emmanuel Obinyan Osenonome, a banker and Senior Relationship Officer, allegedly connived with Emmanuel Egharevba to obtain the cooperation and personal identification details of other individuals, which were used to facilitate the opening of the accounts used to launder the proceeds.
“A detailed forensic analysis conducted by the Corporate and Public Accounts Fraud Section of PSFU traced significant movements of the suspected proceeds to accounts connected with persons linked to the principal suspect,” the police said.
The Unit listed those linked accounts to include Nweke Nnamdi Emmanuel; Obinyan Ebehiemen Doris, a sibling of Emmanuel Obinyan; Egharevba Emmanuel Osagioduwa, and Esther Olohitare Obinyan, wife of Emmanuel Obinyan.
The police further disclosed that forged and disputed Proof-of-Funds, indemnity and Post-No-Debit documents were used to perpetrate the fraud.
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On asset recovery, the PSFU said it traced and identified one Lexus RX 350 2020 model valued at N25 million, two Toyota Camry vehicles valued at N8 million each and a plot of land at Magodo Phase I, Lagos, purchased with N40 million, as proceeds of the crime.
Further forensic analysis also showed that part of the proceeds were diverted for personal financial obligations, gambling activities, CIBEX trading worth N40 million, and the establishment and operation of a spa and beauty business furnished with about N60 million.
The Commissioner of Police, PSFU, CP Eloho Edwin Okpoziakpo, reaffirmed the Unit’s commitment to thorough and professional investigations.
He said the Unit would continue to pursue financial crimes through lawful investigative procedures, ensuring that relevant evidence is properly obtained, documented and presented before a court of competent jurisdiction.
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