N1.4bn Bank Fraud: EFCC arrests Kogi Assembly candidate with N326m and $610,500 cash

Following a successful investigation into the hacking of one of the commercial banks in the country by a syndicate of fraudsters who pulled off a N1.4billion heist, a Kogi State House of Assembly candidate of the New Nigeria Peoples Party (NNPP), Ismaila Yusuf Atumeyi has been arrested by operatives of the Economic and Financial Crimes Commission with N326million and $610,500 cash.

EFCC spokesman, Wilson Uwujaren said the politician who is seeking to represent Ankpa 11 Constituency in the Kogi State House of Assembly was arrested on Sunday, October 30, 2022, alongside one Joshua Dominic, an alleged serial fraudster, in a sting operation at Macedonia Street, Queens Estate, Karsana, Gwarinpa, Abuja.

A former bank employee, Abdulmalik Salau Femi, who allegedly supplied the inside information that facilitated the attack on the bank by the syndicate, was also nabbed at a Hotel in Lagos on Tuesday, November 1.

Atumeyi was first arrested with N326million and $140,500 cash. After a search was conducted in his house, USD 470,000 was recovered.

Uwujaren said;

“Following his arrest, a search was conducted on his home in Morgan Estate, Ojodu where a total of USD 470,000 was recovered.

“The arrest of the suspects followed months of investigation into the hacking of one of the commercial banks by a syndicate of fraudsters who pulled off a heist of N1.4billion.” 

It was gathered that the syndicate allegedly moved N887million into the account of Fav Oil and Gas Limited, from where the monies were paid to several Bureau de Change operators and some auto dealers for exchange into United States Dollars and purchase of high-end cars.

Dominic, a self-styled investment expert and managing director of Brisk Capital Limited, has been arrested several times for fraud and the investigation revealed that he allegedly helped Atumeyi perfect the hacking plan through Abdumalik.

A quick check revealed that Dominic was arrested in May 2021 by the Special Fraud Unit of the Nigeria Police for an alleged N2billion investment scam. He allegedly defrauded over 500 persons in a phony investment scheme.

Two Range Rover Luxury SUVs were also recovered from the two suspects arrested in Abuja.

The suspects would be charged in court as soon as the investigation is concluded.