The Economic and Financial Crimes Commission, has
arrested one Michael Obasuyi, for alleged fraud to the tune of N11.4bn.
The suspect, according to the EFCC, had written a
petition against a mobile company in March 2018 but in a dramatic twist, the
mobile firm wrote a counter-petition to the EFCC thereby causing the commission
to probe him.
The EFCC said in a statement that Obasuyi, who is
the Managing Director, Platinum Multi-purpose Cooperative Society Limited and
Smart Micro Limited, was found to have allegedly perpetrated several acts of
fraud.
Smart Micro was alleged to have approached the
mobile company in 2012 for the deployment of bulk purchase solution called
“Corporatepay” to facilitate payment of salaries of Delta State employees in
microfinance banks.
It was also alleged that the company configured
an additional outbound fund transfer solution called “Fundgate” in 2017, which
required Smart Micro to maintain a pre-funded settlement account with a first
generation bank for settlement of account it had initiated.
However, the company further alleged that the
bank, sometime in March 2018, revealed that the settlement account was in debit
of N11, 498,944,038.29.
The EFCC said, “In his statement to the
commission, confessed to have committed the crime, stating that he created
fraudulent and imaginary monies through the aid of Fundgate financial
application from the company.
“The commission, in the course of investigation,
has recovered a paper version of the programme called MicroSwitchServer1, which
he allegedly used to create and post the imaginary monies.
“He also admitted to have diverted to his
personal use the sum of N7, 519, 381, 202 out of the total sum of N11,
498,944,038.29.”
The commission said it had so far recovered
the sums of N2, 903,727,563.92, $37, 992.87 and €18,538.09 found in Obasuyi’s
accounts in various banks in the country.
It further stated that a total of 20 properties
located in various parts of Edo, Rivers and Lagos States and Abuja, worth
several millions of naira, had been traced to Obasuyi, which were acquired with
proceeds of crime.
The anti-graft agency added, “Obasuyi, who also
admitted to have purchased 134 buses from the proceeds of crime, runs the
popular Platinum Cruise Transport Company.
“He will soon be charged to court as soon as
investigations are concluded.”
“He will be brought to court on a later day.” LR News
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