Banker and Seven Others Charged Over N710m Fraud

The Police Special Fraud Unit (PSFU) has arraigned eight defendants, including Emmanuel Obinyan Osenonome, a banker and Senior Relationship Officer, before the Federal High Court in Lagos over an alleged N710m proof-of-funds fraud. The defendants face a 12-count charge related to the fraudulent disbursement of funds placed under Post-No-Debit restrictions across eight accounts.

The investigation was initiated following a petition to the Commissioner of Police. It revealed that Osenonome conspired with Egharevba Emmanuel to obtain personal identification details from others to open accounts used for laundering the proceeds.

A forensic analysis traced significant movements of funds to accounts linked to the suspects. Assets identified included a 2020 Lexus RX 350, two Toyota Camry vehicles, and a plot of land in Magodo Phase I. The investigation also uncovered that the proceeds were used for personal obligations, gambling, trading investments, and establishing a spa business.

CP Eloho Edwin Okpoziakpo reaffirmed the PSFU's commitment to thorough investigations into financial crimes.