The Police Special Fraud Unit (PSFU), Ikoyi, Lagos, has arraigned a banker and seven others before the Federal High Court in Lagos over an alleged N710m proof-of-funds fraud involving the use of disputed banking documents and accounts opened with other persons’ identities.
The eight suspects were arraigned on a 12-count charge following an investigation into the alleged fraudulent disbursement of N710m placed on Post-No-Debit restrictions across eight designated accounts.
The suspects include Elvis Osazee Eghile; Egharevba MaryJane Osarieyekemwen; Precious Omonigho Irbhogbe; Aghatise Kelvin Uhuenkpoewen; Nweke Nnamdi Emmanuel; Obinyan Esther; Egharevba Emmanuel Osagioduwa and Emmanuel Obinyan Osenonome.
The Commissioner of Police, PSFU, Eloho Edwin Okpoziakpo, in a statement issued on Wednesday, said the investigation commenced after a petition was submitted to his office over the alleged fraudulent disbursement of the funds.
He alleged that Osenonome, a banker and Senior Relationship Officer, conspired with Emmanuel Egharevba to obtain the personal identification details of other individuals, which were subsequently used to facilitate the opening of accounts allegedly employed to launder the proceeds of the fraud.
According to him, a forensic analysis conducted by the unit’s Corporate and Public Accounts Fraud Section reportedly traced significant movements of the suspected proceeds to accounts linked to individuals connected with the principal suspect.
“The accounts were said to be associated with Nweke Nnamdi Emmanuel; Obinyan Ebehiemen Doris, a sibling of Osenonome; Egharevba Emmanuel Osagioduwa; and Esther Olohitare Obinyan, identified as Osenonome’s wife,” he explained.
The PSFU boss further alleged that forged and disputed proof-of-funds, indemnity and Post-No-Debit documents were used to facilitate the scheme.
He stated that as part of efforts to trace and recover assets suspected to have been acquired with the proceeds, investigators identified a 2020 Lexus RX 350 valued at N25m, two Toyota Camry cars valued at N8m each and a plot of land at Magodo Phase I, Lagos, reportedly purchased for N40m.
He added that part of the suspected proceeds was allegedly used to meet personal financial obligations, fund gambling activities and invest N40m in CIBEX trading.
He disclosed that the funds were also allegedly used to establish and operate a spa and beauty business furnished with about N60m.
Okpoziakpo, said the unit remained committed to conducting thorough, professional and evidence-based investigations, particularly in cases involving complex financial transactions and suspected abuse of banking processes.
He added that the unit would continue to pursue financial crimes through lawful investigative procedures and ensure that evidence was properly obtained, documented and presented before a court of competent jurisdiction.
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