By DAYO ADESULU
Major Arrest in Lagos: 192 Foreign Nationals Caught in Fraud Operation
In a landmark operation, the Economic and Financial Crimes Commission (EFCC) has arrested 192 foreign nationals in Lagos for alleged involvement in cryptocurrency investment fraud and romance scams.
The suspects, apprehended in a surprise raid at the Big Leaf Building, a seven-story structure at No. 7, Oyin Jolayemi Street, Victoria Island, include:
- 148 Chinese nationals,
- 40 Filipinos,
- 2 Kazakhstanians,
- 1 Pakistani, and
- 1 Indonesian.
Months of Surveillance Lead to EFCC’s Largest Operation
The EFCC revealed that the bust was the culmination of actionable intelligence and extensive surveillance on the syndicate’s activities. The building, which outwardly appeared to be a legitimate corporate office, was used to train Nigerian accomplices and execute scams targeting victims abroad.
“The operation is the result of months of investigation into a syndicate that has exploited both cryptocurrency investment fraud and romance scams,” the EFCC stated.
Inside the Fraud Factory: What Investigators Found
During the raid, the EFCC discovered floors equipped for fraudulent activities, including high-end desktop computers and other tools used to carry out phishing schemes.
Key findings include:
- 500 local SIM cards, found on the fifth floor, used for fraudulent transactions.
- Training sessions for Nigerian accomplices on how to impersonate professionals or romantic partners online.
- Fake profiles used on platforms like WhatsApp, Instagram, and Telegram to lure victims.
- A fraudulent online investment platform, www.yooto.com, where victims were charged activation fees starting at $35.
How the Syndicate Operated
The syndicate primarily targeted victims in:
- The United States,
- Canada,
- Mexico, and
- European countries.
Nigerian recruits, trained by the foreign operatives, were provided desktop computers and mobile devices to communicate with victims, posing as business professionals or romantic partners. Once trust was established, victims were persuaded to register on the fake investment platform, which served as the primary tool for extracting money.
A Blow to International Scammers
This operation represents a significant step in combating organized cyber fraud. By dismantling this syndicate, the EFCC has dealt a major blow to international scams orchestrated from Nigeria.
Further investigations are ongoing, and the EFCC has pledged to bring all individuals involved in these fraudulent schemes to justice.
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