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200 ‘Yahoo Boys’ arrested in October alone, EFCC boss Magu reveals
The Acting Chairman of the Economic and Financial Crimes Commission (EFCC), has revealed that no fewer than 200 internet fraudsters popularly known as ‘Yahoo Boys’ were arrested across different locations in Nigeria in the month of October alone.
Magu who revealed this at an interactive session with newsmen on Friday in Abuja, stated also that the arrests underscored the agency’s commitment to the fight against corruption and economic crime.
He noted that the biggest arrest in the month of October remains the nabbing of Instagram celebrity, Ismaila Mustapha, a.k.a Mompha, and his Lebanese accomplice, Hamza Koudeih.
He said the suspects, who were “kingpins of an Organised Cyber Syndicate Network (OCSN)”, allegedly laundered a total of N33 billion.
Magu said: “Five wristwatches valued at over N60 million were recovered from Mompha at the point of arrest.
READ ALSO: EFCC arraigns FCMB staff, Bureau De Change worker for N11m fraud
“Investigation has also revealed that he operates 51 bank accounts in Nigeria with which he acquired properties in Dubai and had laundered about N14 billion through Ismalob Global Investments Limited.
“His accomplice, Koudeih, also has two firms namely: THK Services Limited and CHK properties Limited with which he has allegedly laundered about N19 billion.
“Koudeih lives in a five million dollar per annum suite at the Eko Atlantic Pearl Tower, Victoria Island Lagos.’’
He added that there were also clear messages to “high end fraudsters that they can only run, but cannot hide, sooner than later, we will get them”.
“The effort to flush out all fraudsters continues. At the same time, we will sustain the tempo of vigorous prosecution of fraud cases in court.
“Indeed, fraudsters account for a huge percentage of the 890 convictions that has been recorded by the commission this year.
“A number of assets have been seized, while victims have also enjoyed restitution by order of court,” he said.
While noting that the battle “is far from being won”, the anti-corruption czar renewed his appeal for the support of stakeholders, especially the media in its fight against financial crimes.
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