The Police Special Fraud Unit, PSFU, has obtained a court order for the forfeiture of assets and bank accounts linked to an alleged N8.58 billion fraud involving a technology firm, two companies and three individuals.
The development was confirmed on Monday in Lagos by the spokesperson for the unit, DSP Ovie Ewhubare.
According to him, the forfeiture order was granted by the Federal High Court in connection with allegations bordering on conspiracy, obtaining money under false pretences, fraudulent conversion, stealing and money laundering.
Ewhubare identified the affected entities and individuals as Plaude Technologies Ltd, Omberra Commodities Ltd, Olatomiwa Idowu, Osikoya Joshua and Ibunkunoluwa Adebayo, alongside several bank accounts allegedly connected to the transactions under investigation.
He explained that the investigation commenced after the unit received a petition from a financial institution accusing the suspects of securing funds through alleged fraudulent representations and deceptive investment arrangements.
According to the police, operatives launched an extensive intelligence-led investigation that involved multiple financial institutions as well as Nigeria’s apex financial regulatory agency.
Preliminary findings, the spokesperson said, indicated that Plaude Technologies Ltd allegedly lacked the operational and financial capacity to meet obligations made to investors and business associates.
The police further alleged that one Osaretin Jonathan, said to be a director of the company, moved funds through several bank accounts in suspected money laundering activities.
Following the discoveries, the PSFU approached the court and secured an order for the temporary forfeiture of the affected assets and accounts pending the completion of investigations.
The Commissioner of Police in charge of the PSFU, CP Eloho Okpoziakpo, commended the detectives handling the case for what he described as professionalism, dedication and persistence.
He also reaffirmed the unit’s commitment to tackling complex financial crimes and safeguarding the credibility of Nigeria’s financial system.