Eight ‘Yahoo boys’ hack firm’s server, steal N435.3m in Lagos

About eight men have been arraigned at the Lagos Federal High Court in Lagos for allegedly hacking into the server of an electronic Platform belonging to ITEX Integrated Services Limited, carting away N435.3 million.

Aderuku Adedayo, Adigun Benjamin, Awopetu Tosin, Ajibade Ayomide, Ojo Oluwaseun, Miller Oluwafemi, Olaleye Samuel, and Ajibade Ayodeji are facing charges connected to conspiracy, hacking, stealing, and fraud brought against them by the Lagos State Police Command.

According to the prosecutor, Morufu Animashaun, the defendants plotted among themselves and others now on the run to commit the offences on September 7, 2022, at Victoria Island in Lagos.

He said the syndicate jointly hacked the firm’s server and defrauded the company of N435,386,699.99.

He told the court that the first defendant got N29.9 million. In contrast, the second defendant received N51 million, and the third and fourth defendants got N19 million and N20 million, respectively, from the alleged hack.

READ ALSO:EFCC raids Yahoo Boys hideout in Osun, Ogun; arrests 39 suspects

Animashaun also told the court that the fifth to eight defendants received N13 million, N3 million, and N20 million, respectively.

He alleged that some fraudsters transferred part of the money to people in different bank accounts.

The prosecutor said the offences committed infracted Sections 8(a), 1(1), 2(a), and 7(2)(b) of the Advance Fee Fraud and other Fraid Related Offences Act of 2006 and are punishable under Section 1(3) of the same Act.

All the defendants pleaded not guilty to the charges.

Justice Ambrose Lewis-Allogia requested that the defendants be remanded in the custody of the Nigerian Correctional Services and adjourned the case till April 27.

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