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Tag: Fraud

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 […]

Kenyan court freezes Flutterwave accounts over money laundering
Banking

Kenyan court freezes Flutterwave accounts over money laundering

A High court in Kenya has frozen bank accounts linked to a Nigerian fintech company, Flutterwave, over alleged money laundering and card fraud. Flutterwave which is run by Gbenga Agboola was tied in an investigation involving 56 bank accounts holding 7billion Kenyan shillings ($59.3m) suspected to have been laundered by foreign nationals, according to The […]

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  • 7th July 2022
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