The Pacesetter Frontier Magazine

Tag: fraud

  • Five Nigerians Extradited From South Africa Face Up to 100 Years in US Prison

    Precious Nwonu, Enugu

    Five Nigerians extradited from South Africa to the United States over alleged involvement in wire fraud and money laundering could face a combined maximum sentence of up to 100 years in prison if convicted.

    The United States Department of Justice disclosed this in a statement on Monday, stating that the defendants were extradited on September 11, 2026, following their arrest in Cape Town in 2021 at the request of American authorities.

    The suspects, identified as Perry Osagiede, 57; Franklyn Edosa Osagiede, 42; Osariemen Eric Clement, 40; Collins Owhofasa Otughwor, 42; and Musa Mudashiru, 38, were scheduled to appear before US District Judge Michael Shipp at the federal court in Trenton.

    According to the DOJ, the five men were charged in a superseding indictment with conspiracy to commit wire fraud and conspiracy to commit money laundering over alleged offences committed between 2011 and 2021.

    Perry Osagiede, Franklyn Osagiede and Clement were also charged individually with wire fraud, while Perry Osagiede, Franklyn Osagiede and Otughwor face additional charges of aggravated identity theft.

    US Attorney Robert Frazer alleged that the defendants were leaders of the Black Axe organisation and operated within its Cape Town Zone in South Africa.

    He alleged that Osagiede founded the Cape Town Zone and served as its leader, while the defendants and other members were involved in various internet fraud schemes.

    Frazer said the group allegedly targeted victims in the United States through romance scams and advance-fee schemes, using social media, online dating platforms and Voice over Internet Protocol phone numbers.

    According to him, the suspects allegedly operated under different identities and convinced victims that they were involved in genuine romantic relationships before persuading them to send money and valuables overseas.

    Some victims were allegedly threatened with the release of sensitive photographs when they hesitated to send money, while funds were also allegedly moved through US bank accounts belonging to victims and other individuals before being transferred to South Africa.

    The US attorney further alleged that proceeds from business email compromise schemes, romance scams and advance-fee fraud were laundered through aliases and business entities to conceal their origins.

    The DOJ said conspiracy to commit wire fraud and individual wire fraud charges each carry a maximum sentence of 20 years in prison and a fine of up to $250,000.

    The money laundering conspiracy charge also carries a maximum sentence of 20 years, with a fine of up to $500,000 or twice the value of the property involved, whichever is greater.

    Aggravated identity theft, according to the department, carries a mandatory two-year prison sentence to be served consecutively to any other sentence imposed.

    The five defendants were extradited to the US on September 11 after spending years in South Africa following their 2021 arrests.

    However, the DOJ stressed that the charges remain allegations and that the defendants are presumed innocent unless and until they are proven guilty in court.

    “The charges and allegations contained in the superseding indictment are merely accusations, and the defendants are presumed innocent unless and until proven guilty,” Frazer said.

  • EFCC Arraigns Four for False Declaration of Assets 

    EFCC Arraigns Four for False Declaration of Assets 

    The Kaduna Zonal Directorate of the Economic and Financial Crimes Commission, EFCC has arraignedDatau Irimiya Dangyil, Joshua Ayuba Dodo, Lekan Tosin Olatoye and Caleb Akanmu Kayode before Justices Amina Bello and A.Isiaka of the Kaduna State High Court,sitting in Kaduna for fraud.

    Dodo, Olatoye and Dangyil were arraigned before Justice Bello, while Kayode was arraigned before Justice Isiaka, all on Wednesday, June 18, 2025 on separate one-count charge, bordering on false declaration of assets.

    Dangyil’s charge reads: “That you, Datau Irimiya Dangyil  on or about the 26th May, 2025 at Kaduna, within the jurisdiction of this Honourable Court, knowingly made a false declaration when you failed to declare your interest in Account No: 8141229021 in your name Datau Irimiya Dangyil,  domiciled with Palmpay  Limited in the Declaration of Assets Form of the Economic and Financial Crimes Commission, EFCC and you thereby committed an offence contrary to and punishable under Section 27(3)(a) of the Economic and Financial Crimes Commission (Establishment) Act, 2004.”

    That of Olatoye reads: “That you, Lekan Tosin Olatoye, on or about the 27th May, 2025 at Kaduna, within the jurisdiction of this Honourable Court, knowingly made a false declaration when you failed to declare your interest in Account No: 7046305398 in your name Lekan Tosin Olatoye domiciled with  Palmpay Limited in the Declaration of Assets Form of the Economic and Financial Crimes Commission, EFCC and you thereby committed an offense contrary to and punishable under Section 27(3)(a) of the Economic and Financial Crimes Commission (Establishment) Act, 2004.”

    They all pleaded “not guilty” to their charge, upon which the prosecution counsel, Moses O. Arumemi urged the court for a trial date and for the defendants to be remanded in a correctional centre, while the defence counsel, Solomon Ologbondiyan and E.B Abichele, urged the court to grant the defendants bail.

    Justice Bello, thereafter granted Olatoye, Dodo, and Dangyil bail in the sum of N500,000.00 (Five Hundred Thousand Naira), each and one surety, each in like sum, who must be resident within the jurisdiction of the court. In addition,the trio shall provide their National Identity Cards and three months utility bill. He
    adjourned till October 15, 16 and 23, 2025 for commencement of  their trial.

    Justice Isiaka on his part, ordered Kayode’s remand in correctional centre and adjourned till July 2, 2025 for the hearing of his bail application.
    The defendants were arrested following actionable intelligence that exposed them for operating a school without licence in Minna, Niger State and in the course of the investigation they refused to declare their assets in the Assets Declaration Form of the EFCC.

  • Alleged 2.9bn Fraud: EFCC vows to prosecute Okorocha after rearrest

    After 10 hours of stand-off, operatives of the Economic and Financial Crimes Commission (EFCC), yesterday, arrested a former governor of Imo State, Rochas Okorocha.

    A source from the anti-graft agency, who confirmed Okorocha’s arrest, yesterday, simply said, “After nearly 10hours standoff, EFCC arrests Senator Okorocha.”

    Spokesman of the EFCC, Wilson Uwujaren, had in a statement, yesterday, said operatives of the anti-graft agency invaded the residence, following Okorocha’s repeated refusal to honour their invitation, after he was granted an administrative bail. He said Okorocha will be arrested and prosecuted.

    Uwujaren said the former Imo governor jumped bail and has refused to keep his side of the deal of his bail conditions.

    The statement reads: “Operatives of the Economic and Financial Crimes Commission (EFCC), today, May 24, 2022, arrived at the Maitama, Abuja home of a former governor of Imo state, Senator Rochas Okorocha, to effect his arrest.

    “The move followed the refusal of the former governor to honour invitations after jumping the administrative bail earlier granted him by the Commission.

    “EFCC had, on January 24, 2022, filed a 17-count criminal charge bordering on diversion of public funds and properties to the tune of N2.9 billion against Okorocha.

    “The case was assigned to Honourable Justice Inyang Ekwo of the Federal High Court, Abuja, but attempts to arraign Senator Okorocha were twice stalled, owing to the absence of the ex-governor who evaded service of processes.

    “At the last adjourned date, March 28, 2022, Justice Ekwo, before adjourning until May 30, 2022, had warned that it was “the last adjournment I shall grant in this matter”.

    “In the circumstances, the Commission is left with no option than to effect the arrest of Senator Okorocha and bring him to trial.”

    When Daily Sun visited Okorocha’s house yesterday, it was observed that armed personnel of the Nigeria Police Force were part of the operation.

    Sun

  • Missing N881bn: SERAP sues Buhari

    Socio–Economic Rights and Accountability Project (SERAP) has filed a lawsuit against President Muhammadu Buhari over his failure to probe allegations that over 880 billion of public funds are missing from 367 ministries, departments and agencies (MDAs), to ensure the prosecution of those suspected to be responsible, and the recovery of any missing or diverted public funds.

    The suit followed allegations contained in part 2 of the 2018 annual audited report by the Office of the Auditor General of the Federation that 880,894,733,084.811 was spent by 367 MDAs without any appropriation.

    In the suit, number FHC/ABJ/CS/1281/2021, filed last week at the Federal High Court in Abuja, SERAP is seeking: “an order of mandamus to direct and compel President Buhari to promptly investigate the alleged missing N881 billion of public funds, and to ensure the prosecution of those suspected to be responsible, and the full recovery of any missing, mismanaged or diverted public funds.”

    In the suit, filed by its lawyer, Kolawole Oluwadare, SERAP is arguing that: “complying with constitutional requirements and international standards on spending of public funds would ensure effective and efficient management of public resources, and put the country’s wealth and resources to work for the common good of all Nigerians.

    “It is in the interest of justice to grant this application, as it would improve respect for the rights of Nigerians, and improve their access to essential public goods and services, which ought to be provided by the indicted MDAs.

    “President Buhari has a constitutional duty to ensure the investigation and prosecution of allegations of corruption, as well as recovery of any missing public funds. Section 15(5) of the 1999 Nigerian Constitution (as amended), requires the Buhari administration to abolish all corrupt practices and abuse of power.

    “Granting the reliefs sought would help to address the adverse consequences of unconstitutional and poor management of public resources on the human rights of poor Nigerians.”

    Joined in the suit as respondents are the Minister of Justice and Attorney General of the Federation, Abubakar Malami, and the Minister of Finance, Budget and National Planning, Zainab Ahmed.

    No date has been fixed for the hearing of the suit.

    Source: www.sunnewsonline.com

  • CEO of a Forex firm in Lagos defrauds 52 Investors of 122m and escapes

    Victims of an alleged scam perpetrated by a Lagos-based forex training and capital investment company, MBA Capital and Trading Limited, are worried over their unpaid dividend and capital, and the disappearance of the Chief Executive Officer, Maxwell Odum.

     

    The victims, numbering 52, said the total amount they were defrauded of was N122,510,000, adding that the company closed on December 22, 2020, for the festive season but had failed to resume since then.

     

    One of the victims, Paul Smith, told PUNCH Metro that he invested N48m in a scheme promoted by the firm with a promise that he would be getting 15 per cent return on investment every month, but he had been unable to get the promised dividend.

     

    He said he and other investors petitioned the Special Fraud Unit, Ikoyi, on June 6, 2021, adding that more victims had also come out to speak on the alleged scam, bringing the total to over 70.

     

    Smith stated, “The last email we got from the firm was in February telling us that our capital would be refunded. I invested N48m and I’ve been down since. Odum has over N120bn of people’s funds with him and I know over 70 victims.

     

    “What convinced me to join the scheme was the size of the office and operations. The company has a lot of workers. It has offices at Admiralty Way, Lekki, and Allen Avenue, Ikeja. In Lekki, it has over 40 staff members and it was operating normally before now.

     

    “The office was shut on December 22, 2021, with an assumption that it was the festive season break. They promised to resume on January 4, 2021, but they didn’t. We cannot reach their CEO anymore. All the offices are under lock and key. We have petitioned the Special Fraud Unit, Ikoyi, which has assured us that the case will be investigated.”

     

     

     

    Another victim, Misan Sagay, said her brother introduced her to the investment firm, adding that she invested all her savings of N3m, but did not receive any dividend before the company ceased to operate.

     

    “My brother told me about them in October 2020. My first investment was in November 2020 and I have never received any return on investment. I invested N3m. I checked them online and I saw that they were registered with the Securities and Exchange Commission. Now, I’m hearing that it was a part registration.

     

    “My brother invested N1m in August and he got his first dividend in October and that was the last he got. They promised to pay us our capital in January, but we haven’t seen anything. I want the police to help us fish out the CEO; he should be prosecuted.”

     

    Read Also

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    N3.4b fraud: FG reconstitutes NSITF board, sacks MD, others

    21-year-old man nabbed for defrauding 500 investors of N2bn

    Uchenna Ihejirika said he got to know about the scheme through his friend, who invested N5m with the company, adding that he felt safe because he, the friend and Odum attend the same church.

     

    He told PUNCH Metro that he had already received two dividends before the CEO allegedly absconded, adding that he wanted his money.

     

    Ihejirika stated, “One of my pastor brothers introduced me to the MBA. He attends Christ Embassy with the owner of the company. With that, I was confident since we’re all members of the Christ Embassy. I thought there won’t be an issue.   “Even my pastor, who introduced me to the company, invested N5m, while I invested N4.9m. I invested in July 2020 and was promised 15 per cent return on investment every 30 days. I received dividends for August and September, but I was not paid in October.

     

    “I need my capital. I’m not even concerned about the RoI. This country is all about scam. I just want my cap ital back. I’ve learnt my lesson

    When PUNCH Metro contacted the police inspector in charge of the case at the SFU, Sunny Shafau, he said the petition had been approved but investigation into the case could not commence until the petitioners come forward.

     

    “I have received the petition with 52 names attached to it. The petition has been approved. We are waiting for the petitioners to come forward so that investigation can commence. I can’t use my personal money to fund petitions,” he said.

     

     

     

     

    Source: www.punchng.com

  • Shell Top Executives Summoned by the Court Over Alleged 16 million Barrels of Crude Oil Fraud

     

    An Upper Area Court sitting in Abuja has summoned Shell Petroleum Development Company of Nigeria and seven of its top Executives over alleged theft of 16 million barrels of crude oil through fraudulent and unapproved metering system.

    The judge of the court sitting in Zuba, Gambo Garba, issued the summons on Thursday following a direct criminal complaint filed by the African Initiative Against Abuse of Public Trust.

    In the said complaint, the group is urging the court to convict the Shell Executives for alleged criminal acts of conspiracy, theft, and cheating which are in violation of Sections 97, 287 and 323 of the Penal Code Law Cap 89 Law of Northern Nigeria, 1963.

    Those summoned by the court included: Captain Callium Finlayson; Chibueze Uduanochie, Simon Ruddy; Bashir Bello; Osagie Okunbor; Igo Weli and Toyin Olagunyi.

    The direct criminal complaint marked DC/CR/200/21 was filed by Obed Agu pursuant to section 88 and 89 of the Administration of Criminal Justice Act, 2015.

    The group alleged that as operators of the Bonny Terminal, Shell installed an unapproved metering system which it claimed was temporary and which it manipulated to deliberately understate the volume of crude oil that was injected to the terminal thereby shortchanging the local oil companies, owners of the oil and the Federal Government the revenue due to them.

     

    The oil companies include Belema Oil, Eroton, AITEO and Newcross.

    From the court papers, the group alleged that the Department of Petroleum Resources has conducted investigation into the allegations and has indicted SPDC. They also allege that Shell has admitted to having cheated the companies of about 2 million barrels and also committed to refund the crude to the companies.

    The group say they will be pressing for the maximum punishment which is 6 months in jail for conspiracy, 5 years for theft and five years for  cheating.

     

     

     

    Source: www.sunnewsonline.com

  • Stella Oduah’s arraignment for alleged N10bn fraud delayed again

     

    The scheduled arraignment of former Aviation Minister, Senator Stella Oduah, and eight others, for alleged N10 billion fraud, was stalled on Monday.

     

    The prosecution failed to effect service of court documents on some of the defendants.

     

    This is the second time the arraignment was being put off, following claim by lawyer to the Economic and Financial Crimes Commission (EFCC), Hassan Liman (SAN), that he had not served all the defendants.

     

    The EFCC, in the 25-count charge, accused the nine defendants of engaging in conspiracy, money laundering and maintaining anonymous bank accounts with a commercial bank.

     

    Named with Oduah as defendants are: Gloria Odita, Nwosu Emmanuel Nnamdi, Chukwuma Irene Chinyere, Global Offshore and Marine Limited, Tip Top Global Resources Limited, Crystal Television Limited, Sobora International Limited and China Civil Engineering Construction Corporation (CCECC) Nigeria Limited.

     

    Read Also: Alleged N2.2bn fraud: Court grants Fayose leave to travel abroad

    At the mention of the case on February 9, 2021, Liman told the court that the defendants were absent in court because they had not been served.

     

    Though Oduah and some other defendants were in court yesterday, but Liman told the court that he had not served the fifth and sixth defendants – Global Offshore and Tip Top Global.

     

    The lawyer sought the permission of the court to serve the defendants, which are corporate entities, at their addresses.

    Without any objection from some defence lawyers in court, Justice Inyang Ekwo granted the leave sought and directed that the defendants be served within 14 days.

     

    He adjourned till Ap ril 19 for arraignment.

     

     

    Source: www.thenationonlineng.net

  • Legislative aide of deputy speaker sacked over fraud

     

    The Deputy Speaker of the House of Representatives, Ahmed Wase, on Tuesday said he sacked one of his legislative aides over alleged fraud.

    This was made known by his Chief Press Secretary, Umar Puma, in a statement on Tuesday titled, ‘Wase replaces Legislative Aide.’

    The Chief of Staff to the Deputy Speaker was quoted in the statement to have said Ahmed Tijjani Abubakar was been sacked in 2020 and did not resign his appointment as being reported in a section of the media.

    The statement reads partly, “The attention of Chief of Staff to the Deputy Speaker of the House of Representatives, Hon Dr Aminu Ibrahim Malle, has been drawn to a purported resignation of a former legislative aide to the Deputy Speaker by name Ahmed Tijjani Abubakar.

    “For the avoidance of doubt and to keep the records straight, it is imperative to clarify that the person in question was relieved of his appointment since last year after he was discovered to be (allegedly) fraudulently using his position in the office to defraud ministries, departments and agencies.

    “The Deputy Speaker, after receiving the complaints, was left with no choice than to relieve him of his appointment, and has since replaced him with Musa Rabo, whose appointment letter was appended and took effect from 8th December, 2020, against Ahmed’s belated letter of resignation dated 27th January 2021….Therefore, the reported voluntary resignation was a misrepresentation of what actually transpired.”

     

     

     

    Source: www.punchng.com

  • Osinbajo demands sanction for corruption in government agencies

     

     

     

    Vice-President Yemi Osinbajo has expressed worry over a survey report that highlights persistent corruption, duplicity of functions, poor service orientation and other anti-business disposition in some of the Federal Government’s regulatory agencies.

     

     

     

     

    Osinbajo and the Presidential Enabling Business Environment Council therefore resolved to make the report available to the heads of the affected agencies.

     

     

     

     

    The Senior Special Assistant to the Vice President, Laolu Akande, disclosed this in a statement on Wednesday titled,  ‘Osinbajo to regulatory agencies: Everything we do to grow the economy, change lives of Nigerians depends on conducive business environment.’

     

    According to the statement, the survey that returned damning verdicts on the unnamed agencies was conducted by Pricewaterhouse Coopers.

     

     

     

     

    The statement read, “The Cost of Compliance Report which was presented to the council at its first virtual meeting of the year on Tuesday revealed persistent corruption, duplicity of functions, poor service orientation, and several anti-business disposition in some of the regulatory agencies.

     

     

     

     

    “Vice President Yemi Osinbajo, SAN, who presided over the meeting directed that CEOs and heads of such government regulatory agencies involved should be presented with the outcomes and interaction should take place regarding some of the worrying disclosures in the report of the survey conducted by Pricewaterhouse Coopers, PwC.”

     

     

     

     

    Akande also quoted the vice president as saying that if the environment, on account of regulatory authorities, was difficult or expensive, such that people were discouraged to do business, then the nation was shooting itself in the foot.

     

    Describing them as human issues, Osinbajo said something serious must be done to address the issues.

     

    Speaking further about holding those responsible for the major lapses to account, the Vice President said, “I am in full support of holding our CEOs to account because they, in turn, must hold their staff to account. If there is systemic corruption, bribery and extortion, and nobody is held to account, there is a problem.”

     

     

     

     

    Others present at the PEBEC meeting on Tuesday include the Ministers of Industry Trade and Investment, Otunba Niyi Adebayo, the Vice Chairman of PEBEC; Finance, Budget and National Planning, Hajiya Zainab Ahmed; Transportation, Mr Rotimi Amaechi; Information, Alhaji Lai Mohammed; Interior, Ogbeni Rauf Aregbesola; Budget and National Planning (State), Clem Abga; Special Adviser on Ease of Doing Business, Dr. Jumoke Oduwole, and Senator Aishatu Dahiru Ahmed, representing the National Assembly among other top government officials and re presentatives from PwC.

     

     

     

    Source: www.punchng.com