The Economic and Financial Crimes Commission (EFCC) has uncovered over $300,000 in suspected laundered funds linked to a suspected internet fraudster arrested in Edo State.
The suspect, whose identity has not yet been disclosed, was one of 35 individuals apprehended on Sunday, May 4, in the Sabo Iyako area of Auchi. The operation followed actionable intelligence pointing to a network engaged in various forms of cybercrime.
According to a statement release by the EFCC on their official Facebook handle, the suspect played the role of a “picker” or “azaman”—terms used within internet fraud circles to describe individuals responsible for receiving and laundering illicit proceeds on behalf of fraud syndicates.
Preliminary investigations revealed that the suspect handled more than $300,000 (Three Hundred Thousand United States Dollars) for members of the syndicate who remain at large.
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Authorities also discovered that his criminal activities extended beyond cyber fraud to include schemes related to investment and banking fraud.
“The suspect has been under investigation for his role in a well-organized fraud network. Evidence gathered so far confirms his involvement in both internet-based scams and financial sector-related fraud,” an EFCC spokesperson stated.
The Commission has confirmed that the suspect will be formally charged in court upon the conclusion of ongoing investigations.
The EFCC reiterated its commitment to dismantling cybercrime operations across the country and bringing all involved to justice.