Category: Financial Crimes

Nigerian ‘Tech Queen’ in FBI Nets Over ‘Multi-million Dollar Fraud’

June 5, 2025June 5, 2025 Rextun boss No Comments

Sapphire Egemasi, a Nigerian tech enthusiast, is facing potential prison sentence of over 20 years in the United States following her arrest by the Federal Bureau of Investigation (FBI). She was arrested in connection with a large-scale fraud scheme that targeted multiple US government agencies. A programmer, Egemasi, who operates a Devpost account, was arrested…

Crime Watch, Financial Crimes

Yahoo Boy Bags Jail Term, Forfeits N124m, N30m Mercedes-Benz In Kwara

May 22, 2025May 22, 2025 Rextun boss No Comments

Justice Abimbola Awogboro of the Federal High Court in Ilorin has sentenced 23-year-old serial internet fraudster, Adebisi Emmanuel Olalekan, to 24 months in prison with no option of a fine. Olalekan, a native of Omuo-Ekiti in Ekiti East Local Government Area of Ekiti State, was convicted on Wednesday, May 21, 2025 after he was found…

Financial Crimes

EFCC Arrests 17 Suspected Internet Fraudsters in Kwara

May 13, 2025May 13, 2025 Rextun boss No Comments

Operatives of the Ilorin Zonal Directorate of the Economic and Financial Crimes Commission, EFCC have arrested 17 suspected internet fraudsters in coordinated sting operations in Ilorin and Ifelodun Local Government Area of the state. They were rounded up at Asa Dam, Al-Hikmah University area and Gaa-Odota areas of Ilorin and in Ganmo and Amoyo areas…

Crime Watch, Financial Crimes

EFCC Arraigns Eezee Tee For Alleged $397, 106 Forex Fraud, Money Laundering in Lagos

May 7, 2025May 7, 2025 Rextun boss No Comments

The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission, EFCC, on Wednesday, May 7, 2025, arraigned a music promoter, Ezekiel Onyedikachukwu ThankGod, (a.k.a Eezee Tee) before Justice Chukwujekwu Aneke of the Federal High Court sitting in Ikoyi, Lagos ThankGod, alongside his company, Eezee Global Concepts Limited, is standing trial on an amended…

Financial Crimes

My Mother Sold Family Land To Enrol Me In Yahoo Training Centre – 12-year-old Boy

May 6, 2025May 6, 2025 Rextun boss No Comments

A 12-year-old boy identified as Munachi Udochukwu, has revealed to the police how his mother sold their family land so he could be enrolled in a Yahoo training centre in Lagos. Munachi said prior to his arrival in Lagos, he lived with his parents in Anambra State. However, following the de@th of his father, who…

Financial Crimes

Wanted Suspected CBEX Promoter Submits Self To EFCC

April 28, 2025April 28, 2025 Rextun boss No Comments

One of the suspected promoters of the cryptocurrency trading platform, Crypto Bridge Exchange, Adefowora Abiodun, who was recently declared wanted by the Economic and Financial Crimes Commission, voluntarily surrendered himself to the anti-graft agency on Monday. Justice Emeka Nwite of the Federal High Court in Abuja, in a ruling on Thursday last week, approved the…

Financial Crimes

Osun Traditional Ruler Pead Guilty To $4.2m COVID-19 Fraud in US, Faces Potential Jail Term

April 26, 2025April 26, 2025 Rextun boss No Comments

HRH, Joseph Oloyede, the Apetu of Ipetumodu in Osun state, and one Edward Oluwasanmi, a pastor, have pleaded guilty to swindling the United States government of $4.2 million in COVID-19 relief funds. Oluwasanmi reportedly used his companies – Dayspring Transportation Limited, Dayspring Holding Incorporated, and Dayspring Property Incorporated – to obtain millions of dollars, which…

Financial Crimes

Eight Suspects Declared Wanted By EFCC Over Alleged CBEX Scam

April 26, 2025April 26, 2025 Rextun boss No Comments

The Economic and Financial Crimes Commission (EFCC) has declared eight suspects, including four foreign nationals, wanted over alleged involvement in the Ponzi scheme platform Crypto Bridge Exchange (CBEX). The agency issued the public notice via its X handle in two batches of four suspects each on Friday. The first batch comprised four Nigerians – Adefowora…

Financial Crimes

Court Witness Explains How Massive ₦9.3bn Hacking Fraud Hits Union Bank

April 23, 2025April 23, 2025 Rextun boss No Comments

Union Bank of Nigeria Plc, is reportedly embroiled in a massive financial scandal involving the alleged theft of ₦9.3 billion from customer accounts due to a breach in its core banking system. The incident, which occurred on March 23, 2025, has been described in court filings as “a massive operational failure,” resulting in unauthorized transfers…

Crime Watch, Cyberspace and Security I, Financial Crimes

₦8b Nigerian Air Fund: Hadi Sirika Back in EFCC Custody For Alleged Embezzlement

April 23, 2025April 23, 2025 Rextun boss No Comments

The Economic and Financial Crimes Commission has taken into custody former Minister of Aviation, Hadi Sirika, in connection with an ongoing investigation related to money laundering amounting to N8,069,176,864.00. The accused ex-Minister of Aviation made an appearance at the EFCC’s Federal Capital Territory Command around 1:00 pm on Tuesday. Sirika was taken in upon his…

Financial Crimes