The Economic and Financial Crimes Commission, EFCC, has arrested 792 suspects for their alleged involvement in cryptocurrency investment fraud and romance scam, marking the largest such operation in the commission’s history.
During a media briefing on Monday at the Lagos Zonal Directorate of the Commission, Chairman of EFCC, Ola Olukoyede stated that among those arrested are 148 Chinese nationals, 40 Filipinos, two Khazartans, one Pakistani, and one Indonesian.
The EFCC’s boss, who spoke though the Director, Public Affairs, EFCC, Commander of the EFCC, Wilson Uwujaren further noted that the suspects were apprehended last Tuesday in a surprise operation at their hideout, a seven-storey building known as the Big Leaf Building, located at No. 7, Oyin Jolayemi Street, Victoria Island, Lagos.
The EFCC disclosed that the operation was the result of actionable intelligence and months of surveillance on the activities of the syndicate.
The investigation confirmed that the foreigners used the building, which appeared to be a legitimate corporate office, to train Nigerian accomplices on how to execute romance and investment scams. They also used Nigerian identities to carry out their fraudulent schemes.
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The facility, equipped with high-end desktop computers, contained several floors dedicated to criminal activities. On the fifth floor, investigators seized 500 SIM cards of local telecom providers, which were acquired for illicit purposes.
According to the EFCC, the foreign suspects recruited Nigerian accomplices to target victims primarily in the United States, Canada, Mexico, and various European countries through phishing schemes. The Nigerian operatives were given desktop computers and mobile devices, creating fake profiles to engage victims in fraudulent romantic and business conversations.
These accomplices communicated with victims using WhatsApp, Instagram, and Telegram, often pretending to be business professionals or romantic partners. The scammers encouraged victims to register on a fake online investment platform, www.yooto.com, where they were required to pay activation fees starting at $35 to open an account.
The EFCC’s successful operation marks a significant blow to the international syndicate involved in these scams.
Credible News.ng
