The Police Special Fraud Unit (PSFU), Lagos, has arraigned a suspect, Bello Saheed Samuel, before the Federal High Court in Lagos over alleged conspiracy and money laundering linked to an insider fraud estimated at about ₦90 million.
The arraignment was confirmed in a statement signed by the Unit’s spokesperson, DSP Ovie Kenneth Ewhubare, and released to the National Association of Online Security News Publishers (NAOSNP).
According to the statement, the suspect, an employee of an investment company working in its finance department, allegedly diverted company funds for personal use.
The PSFU said investigations commenced following a formal complaint by the affected company.
However, upon discovering that his activities had been uncovered, the suspect reportedly fled Lagos with members of his family to an unknown location and cut off all means of communication in an attempt to evade arrest.
Operatives of the Unit tracked the suspect across several states in the South-West before eventually arresting him at Oye-Ekiti Local Government Area of Ekiti State.
Further investigations revealed that the suspect allegedly laundered the proceeds of the fraud through the bank accounts of friends and relatives in a bid to conceal the source of the funds.
The police said investigations are ongoing to identify and arrest other individuals linked to the alleged crime.
Commenting on the case, the Commissioner of Police, Police Special Fraud Unit, Lagos, CP Kayode Ojapinwa, reaffirmed the Unit’s commitment to tackling financial crimes and urged corporate organisations to strengthen internal control mechanisms, particularly in monitoring employees, to prevent insider abuses.
