The Police Special Fraud Unit (PSFU), Lagos, has arraigned one Bello Samuel before the Federal High Court, Lagos for offences bordering on conspiracy and money laundering in connection with a series of insider fraud of about ₦90 million.
Police Public Relations Officer, DSP Ovie Ewhubare in a statement issued Wednesday said the suspect, an employee of an investment company and working in the finance department of same company, was alleged to have fraudulently converted the company’s funds for personal use.
He added that following a formal complaint by the affected company, operatives of the Unit immediately commenced investigation into the matter.
Ewhubare noted: “Upon realising that his fraudulent activities had been uncovered, the suspect absconded from Lagos with members of his family to an unknown destination and cut off all means of communication in an attempt to evade justice.
“The investigation extended to several states in the South-Western part of the country and the suspect was eventually arrested at Oye-Ekiti Local Government Area of Ekiti State.
“Further investigation revealed that the suspect habitually laundered the proceeds of fraud through the bank accounts of friends and relatives in order to conceal the source of the funds.
“However, while the suspect is facing trial, investigation is still ongoing to arrest all other suspects involved in the crime.”
The Commissioner of Police, Police Special Fraud Unit Lagos, CP Kayode Ojapinwa, while reiterating the Unit’s resolve to tackle financial crimes, advised well-meaning Nigerians and corporate organisations to always engage in lawful transactions and strengthen internal control mechanisms, particularly in monitoring employees, to prevent insider abuses.