The Economic and Financial Crimes Commission (EFCC), said it recorded no fewer than 200 arrests of Internet fraud suspects, popularly known as ‘Yahoo Boys’, in Oct. alone.
The Acting Chairman of the commission, Mr Ibrahim Magu, stated this at an interactive session with newsmen on Friday in Abuja.
According to Magu, the biggest catch of the commission is Instagram celebrity Ismaila Mustapha a.k.a Mompha, and his Lebanese accomplice Hamza Koudeih.
He said the suspects, who were “kingpins of an Organised Cyber Syndicate Network (OCSN)”, allegedly laundered a total of N33 billion.
Magu said: “Five wristwatches valued at over N60 million were recovered from Mompha at the point of arrest.
“Investigation has also revealed that he operates 51 bank accounts in Nigeria with which he acquired properties in Dubai and had laundered about N14 billion through Ismalob Global Investments Limited.
“His accomplice, Koudeih, also has two firms namely: THK Services Limited and CHK properties Limited with which he has allegedly laundered about N19 billion.
“Koudeih lives in a five million dollar per annum suite at the Eko Atlantic Pearl Tower, Victoria Island Lagos.’’
The EFCC boss said the arrests underscored the agency’s commitment to the fight against corruption and economic crime.
He added that there were also clear messages to “high-end fraudsters that they can only run, but cannot hide, sooner than later, we will get them”.
“The effort to flush out all fraudsters continues. At the same time, we will sustain the tempo of vigorous prosecution of fraud cases in court.
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