The Police Special Fraud Unit (PSFU), Ikoyi, Lagos, has arraigned one Bello Saheed Samuel before the Federal High Court sitting in Lagos over alleged offences bordering on conspiracy and money laundering involving about ₦90 million.
According to a statement issued on Tuesday by the Police Public Relations Officer of the Unit, DSP Ovie Kenneth Ewhubare, anipr, ACIArb, the suspect was charged in connection with a series of alleged insider frauds committed against an investment company where he was employed.
The statement said the defendant, who worked in the finance department of the company, allegedly abused his position by fraudulently converting company funds for personal use.
DSP Ewhubare explained that investigations commenced following a formal complaint lodged by the affected firm. He noted that upon discovering that his activities had been uncovered, the suspect allegedly fled Lagos with members of his family to an unknown destination and cut off all lines of communication in an attempt to evade arrest.
“The investigation was extended to several states in the South-West, and the suspect was eventually arrested at Oye-Ekiti Local Government Area of Ekiti State,” the statement said.
Police investigations further revealed that the suspect allegedly laundered proceeds of the fraud through bank accounts belonging to friends and relatives in order to conceal the source of the funds.
While Bello Saheed Samuel has been arraigned and remanded to face trial, the police said investigations are still ongoing to identify and arrest other individuals connected to the alleged crime.
Reacting to the development, the Commissioner of Police in charge of the Police Special Fraud Unit, CP Kayode Ojapinwa, reiterated the Unit’s commitment to combating financial crimes across the country.
He also advised Nigerians and corporate organisations to conduct their transactions lawfully and strengthen internal control systems, particularly in monitoring employees, to prevent insider-related abuses.
“The Unit will continue to pursue financial crime offenders and ensure they are brought to justice,” Ojapinwa assured.
