EFCC Arrest Yahoo Boys For N806 m scam

            

The Economic and Financial crime Commission have arrested 3 suspected fraudsters in Port harcourt for a scam of N806 million.

The men Okpekereke Timothy,Stanley odjighere, were three out of the 40 people wanted.

The EFCC  Spokesperson said “The trio are part of a syndicate arrested over allegations of conspiracy, Internet scam and stealing from one of the new generation banks to the tune of N806, 208,000. Forty others are still at large.
              

“The theft was perpetrated through a system glitch linked to the fraudsters, in which the bank suffered a huge loss of more than N806m.”

It was gathered that the bank had told the EFCC that a review of transactions involving the bank with Interswitch Nigeria limited revealed that the bank was not reimbursed for the transactions consummated on ATM terminals.

 “It was discovered that while many of the transactions involved were failed transactions, the amounts involved were not reversed, and all the customers were seen to have withdrawn the cash amounting to the sum on each day it happened.

 “The EFCC has so far confiscated the following property, which are proceeds of the crime from the suspects; one uncompleted 59-room self-contain hostel, a twin bungalow in Oghara, Delta State, one uncompleted hotel project, one bungalow with a swimming pool in Ughelli and a bungalow in Agbaro.

“Others are one Toyota Venza, 2010 model; two Toyota Solara cars, 2010 model; two Toyota Camry cars, 2010 model and two Honda Accord cars, 2005 model.” Uwujare said

The suspected will be arraign in court when investigation is completed