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Tag: Fraud

Scams

Court orders Mompha to open defence on ₦6bn fraud

An Ikeja Special Offences Court on Tuesday dismissed a no-case submission by internet celebrity, Ismaila Mustapha, popularly called Mompha, over alleged six billion naira money laundering charges. Justice Mojisola Dada ordered the defendant to begin his defence. The News Agency of Nigeria reported that the defendant is being prosecuted by the Economic and Financial Crimes […]

featured Finance News

Yahaya Bello’s alleged N110bn fraud trial adjourned till November 12

A High Court of the Federal Capital Territory, sitting at Maitama, on Thursday, adjourned further hearing on the 16-count money laundering charge the Economic and Financial Crimes Commission preferred against the former Governor of Kogi State, Alhaji Yahaya Bello, till November 12. The adjournment came after the anti-graft agency called its sixth witness to testify […]

featured Scams

FBI places $10,000 bounty on wanted Nigerian fraudster

The Federal Bureau of Investigation has announced a reward of up to $10,000 (about N14m) for information leading to the arrest and conviction of Nigerian national, Olumide Adebiyi Adediran, who has been on the run for over two decades. Adediran absconded from the Central District of Illinois in late December 2001, just before his federal […]

US court jails Nigerian hacker for $2.5m identity theft
Scams

UK-based Nigerian faves 20-year jail over $2m fraud

A 34-year-old Nigerian man, Olamide Shanu, has been extradited from the United Kingdom to the United States to face trial for his alleged involvement in a multi-million-dollar sextortion and wire fraud scheme. Shanu was arraigned before a US Magistrate Court on Wednesday, where he faced an eight-count charge bordering on wire fraud conspiracy, aggravated identity […]

FBI accuses North Korea of $1.5bn crypto heist
Scams

Nigerian man arrested in UK over $235,000 US cyber fraud

A Nigerian man living in the United Kingdom, Farouk Adekunle Adepoju, has been arrested following a United States request for extradition on charges of wire fraud and computer fraud. Acting United States Attorney Troy Rivetti announced that Adepoju was arrested by UK authorities on September 15, 2025, and is awaiting extradition to face a seven-count […]

Abuja court gives DSS one week to charge Emefiele or release him
News

$4.5bn fraud: Court permits Emefiele to examine iPhone evidence

The Lagos State Special Offences Court in Ikeja has granted former Central Bank of Nigeria Governor, Godwin Emefiele, permission to engage forensic experts to examine WhatsApp conversations and a mobile device marked “iPhone 2” tendered as evidence in his ongoing $4.5 billion and N2.8 billion fraud trial. Justice Rahman Oshodi gave the ruling after Emefiele’s […]

Scams

US Immigration arrests Nigerian previously convicted of wire fraud

The United States Immigration and Customs Enforcement Agency has arrested a previously convicted Nigerian, Rotimi Oladimeji, in an operation targeting illegal immigrants across the country. The ICE, in a statement shared on its X page on Monday, disclosed that Oladimeji was ordered to pay $1.1 million in restitution before he was arrested. The terse statement […]

US court jails Nigerian hacker for $2.5m identity theft
News

US court jails Nigerian hacker for $2.5m identity theft

A United States court has sentenced a Nigerian national, Kingsley Utulu, to five years and three months in prison for his involvement in a large-scale identity theft and cyber fraud scheme that defrauded U.S. tax authorities and citizens of more than $2.5 million. The sentence was announced over the weekend by U.S. Attorney for the […]

Youverify raises $2.5M to fight anti-money laundering
News

Youverify raises $2.5M to fight anti-money laundering

Nigerian firm specializing in identity verification and anti-money laundering solutions tailored for both banks and startups, Youverify, has successfully secured a $2.5 million investment from Elm, a leading provider of digital solutions serving public and private institutions in Saudi Arabia. This pre-Series A investment not only infuses capital into Youverify but also establishes a strategic […]

El Salvador moves Bitcoin to offline vault
Crypto

Binance trained ‘police, EFCC operatives’, blocked 281 accounts over money laundering

Binance stated it confined 281 accounts belonging to Nigerian residents as a result of money laundering concerns in 2022 and extensively partnered with the FG to protect users from illicit activity. The Binance team also stated in a press release, that it had visited the country twice during the fourth quarter, and the company’s Law […]

No fraud found in Nigerian unit, says Olam Group
News

No fraud found in Nigerian unit, says Olam Group

Singapore’s Olam Group has addressed concerns by announcing that its investigation team found no evidence implicating its Nigeria unit in an alleged multi-billion-dollar foreign exchange fraud. The company stated that no charges were brought against Olam Nigeria, maintaining its innocence. In a recently released statement, Olam Group clarified that the investigation team, sanctioned by the […]

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