2 nabbed over alleged N614m fraud

Two members of a fraud syndicate, Ikeocha Daniel Kelechi and Sylvester Ebeta, have been arrested by the Police Special Fraud Unit (PSFU)  for allegedly defrauding a leading Nigerian Financial Technology (FinTech) company of N614 million. Their arrest was sequel to a petition to the PSFU over the activities of a syndicate who allegedly compromised the […]

Two members of a fraud syndicate, Ikeocha Daniel Kelechi and Sylvester Ebeta, have been arrested by the Police Special Fraud Unit (PSFU)  for allegedly defrauding a leading Nigerian Financial Technology (FinTech) company of N614 million.

Their arrest was sequel to a petition to the PSFU over the activities of a syndicate who allegedly compromised the network of the company and transferred the said sum to their personal accounts between January 19, 2022, and October 12, 2023.

It was learnt that the deal was done during a glitch which led to some Payment Gateway Web Merchants of the firm getting multiple credits for refunds initiated to cardholders by the merchants.

PSFU’s spokesman, Eyitayo Johnson, said that the multiple credit refunds were automatically settled to the suspects’ accounts in various banks and subsequently withdrawn by the suspects.

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Johnson said that one of the suspects, Kelechi, unlawfully benefited and converted N403m, while on the second suspect, Ebeta, fraudulently diverted N211m to his own account.

He further said, “The duo took advantage of the glitch to make multiple withdrawals totalling the aforesaid sum and distributed same to themselves (in other banks), friends and relations.

“The suspects, who disabled their mobile lines and relocated from known addresses in their bid to evade justice, were tracked and arrested by PSFU detectives. The duo made confessional statements where they admitted their roles in the crime. Criminal charges have been filed against the suspects by the unit’s legal section.”