The Police Special Fraud Unit (PSFU), Lagos, has arraigned eight suspects involved in a proof-of-funds fraud scheme on a 12-count charge before the Federal High Court, Lagos Judicial Division.
The suspects were identified as Elvis Osazee Eghile, Egharevba MaryJane Osarieyekemwen, Precious Omonigho Irbhogbe, Aghatise Kelvin Uhuenkpoewen, Nweke Nnamdi Emmanuel, Obinyan Esther, Egharevba Emmanuel Osagioduwa, and Emmanuel Obinyan Osenonome.
The 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. Investigation revealed that Emmanuel Obinyan Osenonome, a banker and Senior Relationship Officer, 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 of crime.
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, including Nweke Nnamdi Emmanuel; Obinyan Ebehiemen Doris, a sibling of Emmanuel Obinyan; Egharevba Emmanuel Osagioduwa; and Esther Olohitare Obinyan, wife of Emmanuel Obinyan. Further investigation revealed that forged and disputed Proof-of-Funds, indemnity and Post-No-Debit documents were used to perpetrate the crime.
In a demonstration of the Unit’s capacity in fraudulent asset tracing and recovery, 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, which was purchased for N40 million, were identified as proceeds of the crime. Further forensic analysis revealed that part of the proceeds were used for personal financial obligations, gambling activities, CIBEX trading N40 million, and the establishment and operation of a spa and beauty business furnished with about N60 million.
The Commissioner of Police, CP Eloho Edwin Okpoziakpo, reaffirmed the Unit’s readiness to ensure thorough, professional and evidence-based investigations, particularly in cases involving complex financial transactions and suspected abuse of banking processes. He emphasised that 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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