The Economic and Financial Crimes Commission (EFCC) has arrested two bureau de change operators, Salihu Liman Mahmoud and Dan Asabe Ibrahim and two University of Jos undergraduates, Isaiah Friday and Azzaior Samuel over an alleged N2.5 billion fraud.
The suspects, who specialize in breaking into the computer database of financial institutions in order to carry out dry posting of funds, were separately arrested in Lagos and Jos.
Their arrest comes on the heels of a petition which the commission received from Union Bank of Nigeria Plc, Marina, Lagos sometimes in January 2013, alleging that a criminal attack had been launched on its database known as “Flexcube” by unknown criminals who falsified the bank records and accounts and created unjustified huge opening balances in several accounts across the bank’s branches and subsequently transferred funds from those accounts to several accounts in other banks.
The petition, which was signed by the Head of Fraud Investigation at the bank, A.F. Olufade, said cash withdrawals and electronic transfers totalling over N2.5 billion was involved in the scam.
Upon receiving the petition, the Banks and Other Financial Institutions Fraud section of the anti-graft agency swung into action. Investigations by EFCC however revealed that one of the undergraduates, Friday, who was carrying out computer system maintenance services for one of Union Bank branches in Jos on a part-time basis, paved way for the fraudsters to penetrate the bank’s database. Friday was traced and arrested. His arrest led to the arrest of Samuel.
A statement by the EFCC’s head of media and publicity, Wilson Uwujaren, in Abuja Monday, said: “Investigations further revealed that Mahmoud, who is the mastermind of the fraud with others now at large, had approached Samuel if he knew anyone working with the Union Bank. Samuel gave Friday's contact and Friday was contacted. They told him they needed access to the bank's database in order to carry out some postings. They promised to give Friday N1.5m. Friday obliged and on the day the crime was committed, Samuel disguised as a colleague of Friday who had accompanied him to work in order to gain access to the bank’s premises. They carried out the postings to 6 different company accounts domiciled in Union Bank's Marina branch in Lagos.”
The various bank accounts where the stolen money was posted are: Gona Bureau De Change Limited, Jaxmine Bureau De Change Limited, Dan Kawu Bureau De Change Limited, Godswill Great Communications, ZHG Services Limited and A and B Console Limited. The postings were carried out and the syndicate thereafter went to the bank to withdraw all the funds. Friday was paid as promised and other syndicate members now at large shared the remaining balance.
The statement added that while investigation into the scam continues, the EFCC has so far been able to recover the sum of $2,129,900 and another N134, 542, 720 from the fraudsters. Other items recovered include: furniture worth N10 million from Mahmoud’s 1-bedroom apartment in Yaba, Lagos, 4 vehicles, landed properties in Kano, Kaduna and a 4-bedroom duplex worth N45m in Lagos.
The suspects, who specialize in breaking into the computer database of financial institutions in order to carry out dry posting of funds, were separately arrested in Lagos and Jos.
Their arrest comes on the heels of a petition which the commission received from Union Bank of Nigeria Plc, Marina, Lagos sometimes in January 2013, alleging that a criminal attack had been launched on its database known as “Flexcube” by unknown criminals who falsified the bank records and accounts and created unjustified huge opening balances in several accounts across the bank’s branches and subsequently transferred funds from those accounts to several accounts in other banks.
The petition, which was signed by the Head of Fraud Investigation at the bank, A.F. Olufade, said cash withdrawals and electronic transfers totalling over N2.5 billion was involved in the scam.
Upon receiving the petition, the Banks and Other Financial Institutions Fraud section of the anti-graft agency swung into action. Investigations by EFCC however revealed that one of the undergraduates, Friday, who was carrying out computer system maintenance services for one of Union Bank branches in Jos on a part-time basis, paved way for the fraudsters to penetrate the bank’s database. Friday was traced and arrested. His arrest led to the arrest of Samuel.
A statement by the EFCC’s head of media and publicity, Wilson Uwujaren, in Abuja Monday, said: “Investigations further revealed that Mahmoud, who is the mastermind of the fraud with others now at large, had approached Samuel if he knew anyone working with the Union Bank. Samuel gave Friday's contact and Friday was contacted. They told him they needed access to the bank's database in order to carry out some postings. They promised to give Friday N1.5m. Friday obliged and on the day the crime was committed, Samuel disguised as a colleague of Friday who had accompanied him to work in order to gain access to the bank’s premises. They carried out the postings to 6 different company accounts domiciled in Union Bank's Marina branch in Lagos.”
The various bank accounts where the stolen money was posted are: Gona Bureau De Change Limited, Jaxmine Bureau De Change Limited, Dan Kawu Bureau De Change Limited, Godswill Great Communications, ZHG Services Limited and A and B Console Limited. The postings were carried out and the syndicate thereafter went to the bank to withdraw all the funds. Friday was paid as promised and other syndicate members now at large shared the remaining balance.
The statement added that while investigation into the scam continues, the EFCC has so far been able to recover the sum of $2,129,900 and another N134, 542, 720 from the fraudsters. Other items recovered include: furniture worth N10 million from Mahmoud’s 1-bedroom apartment in Yaba, Lagos, 4 vehicles, landed properties in Kano, Kaduna and a 4-bedroom duplex worth N45m in Lagos.
No comments:
Post a Comment