The Police Special Fraud Unit (PSFU), Ikoyi, Lagos, has arraigned a suspect before the Federal High Court in Lagos over an alleged $55,000 fraud and money laundering case, following what it described as an extensive digital financial investigation.
The Police Public Relations Officer of the PSFU, DSP Ovie Kenneth Ewhubare, disclosed in a statement on Friday that the suspect, Casmir Chineneyeze Nwankwo, was charged with multiple counts bordering on obtaining money by false pretence and money laundering involving $55,000 (about N88 million).
According to the statement, the arraignment followed an investigation by the PSFU’s Cyber and Advance Fee Fraud Section after the Unit received a petition from a technology company alleging that the defendant fraudulently obtained the money under false pretences.
Police said investigations revealed that the suspect allegedly induced the company to part with the funds, which were subsequently diverted and converted to his personal use.
The statement added that investigators deployed digital forensic and financial investigative techniques to trace the suspected proceeds of the crime to several bank accounts linked to the defendant.
The investigation, according to the police, also uncovered what it described as deliberate attempts to conceal and dissipate the alleged fraud proceeds through multiple financial channels, leading to his prosecution before the Federal High Court.
Commenting on the case, the Commissioner of Police, Police Special Fraud Unit, CP Eloho Edwin Okpoziakpo, urged members of the public and corporate organisations to promptly report fraud-related cases and suspicious financial transactions.
He stressed that early reporting significantly improves investigators’ ability to trace illicit funds, preserve digital and financial evidence, and prevent suspects from concealing or dissipating proceeds of crime.
“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 said.
Okpoziakpo added that early engagement with law enforcement also increases the chances of recovering stolen assets while ensuring perpetrators are brought to justice.
He assured the public that the Police Special Fraud Unit remains committed to responding professionally and diligently to reports of fraud and other financial crime.
