Police Arraigns Man Over Alleged $55,000 Fraud

By RhemDy News

The Police Special Fraud Unit (PSFU), Lagos, has arraigned a man, Casmir Chineneyeze Nwankwo, before the Federal High Court sitting in Lagos, on multiple count charges bordering on obtaining money by false pretense and money laundering.

Nwankwo is standing trial over the allegations of fraudulently obtaining the sum of $55,000 USD, an equivalent of approximately N88million. 

A statement on Friday by the Police Public Relations Officer, PSFU, DSP Ovie Kenneth Ewhubare, on behalf of the Unit's Commissioner of Police, said Nwankwo's arraignment followed a painstaking investigation conducted by the Cyber and Advance Fee Fraud Section of the Unit.

The statement explained that the investigation was pursuant to a petition received from a technology company alleging that the defendant fraudulently obtained the said sum from the company under false pretences.

DSP Ewhubare added that investigations revealed that the suspect dishonestly induced the complainant to part with the funds, which were subsequently diverted and converted to his personal use. 

Leveraging its digital forensic and financial investigative capabilities, the PPRO said operatives of the Police Unit extended the investigation to several bank accounts linked to the defendant, where proceeds of the alleged crime were traced and uncovered. 

He added that the findings further established a deliberate attempt to conceal and dissipate the fraud proceeds through various financial channels, thereby necessitating Nwakwo's prosecution before the court.

The Commissioner of Police, PSFU, Lagos, CP Eloho Edwin Okpoziakpo, called on members of the public and corporate organisations to promptly report all cases of fraud and suspicious financial transactions to the Police. 

CP Okpoziakpo noted that timely reporting remains a critical factor in successful investigations, stressing that 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 further stated that early engagement with law enforcement not only improves the chances of recovery but also contributes significantly to bringing perpetrators to justice. 

He assured the public of the Unit's readiness to respond professionally and diligently to all reported cases of fraud and financial crimes.