The Economic and Financial Crimes Commission (EFCC) has arrested 792 suspects, including 193 Chinese, Arabs, Filipinos, and others, for their alleged involvement in cryptocurrency investment fraud and romance scams.
The suspects were apprehended on December 10, 2024, at their hideout, a seven-storey building known as Big Leaf Building, on Victoria Island, Lagos. The operation was carried out following verifiable intelligence received by the Commission.
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According to EFCC Chairman, Ola Olukoyede, the foreign nationals used the facility to train their Nigerian accomplices on how to initiate romance and investment scams. They also used the identities of their Nigerian accomplices to perpetrate their criminal activities.
The suspects used high-end desktop computers and mobile devices to target victims online through phishing, mostly Americans, Canadians, Mexicans, and Europeans. They created fake profiles and provided their Nigerian accomplices with logs to access foreign communication lines and victims.
The Nigerian accomplices were paid in cash or through individual accounts and did not know the owners of the company they worked for. The EFCC is working with partners to establish the extent of the scam and the accomplices.
Olukoyede debunked the notion that Nigerians are behind the tonnes of frauds emanating from the country, stating that foreigners are taking advantage of Nigeria’s reputation to establish a foothold and disguise their criminal enterprises.
Items recovered from the suspects include desktop computers, mobile phones, laptop computers, and cars. The suspects will be charged to court after investigations are concluded .
