Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested a Cameroonian businessman, Bekono Marc Eric, over an alleged N1.5 billion bank fraud in Lagos.
The suspect, 47, was apprehended on Thursday by officers of the EFCC’s Lagos Zonal Directorate 2 in the Ikorodu area of the state.
According to the commission, preliminary investigations indicate that the suspect is part of a trans-border syndicate involved in credit card fraud operations across multiple countries.
The syndicate is said to operate by opening bank accounts in Nigeria, obtaining Automated Teller Machine (ATM) cards and Personal Identification Numbers (PINs), and then moving to neighbouring countries where the cards are used to carry out fraudulent withdrawals from accounts belonging to unsuspecting customers with high balances.
The EFCC said the alleged scheme led to the loss of about N1.5 billion from a first-generation bank.
Spokesperson of the commission, Dele Oyewale, confirmed the development, adding that the suspect will be charged to court upon the conclusion of investigations.
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