Police Arrest Alleged Serial Fraudster For N320m Scam In Lagos
The Nigeria Police Force, FCID Annex, Lagos, has arrested one Chinedu Ernest Ngwaka, a self-acclaimed Bureau de Change operator, for allegedly defrauding a businessman of N320 million.
Ngwaka and his wife, Janet Onyekachi Ngwaka, are accused of operating fraudulent currency exchange schemes and face additional allegations involving over N1.8bn in other fraudulent transactions.
According to a statement by the Police Public Relations Officer, FCID Annex, Lagos, Mayegun Aminat, the arrest followed a petition filed on September 9, by Tochukwu Unachukwu, Managing Director of Casco Electronics Company Limited.
The petition, submitted through the legal firm Chinedu Laz and Partners (Deo Gratia Chambers), detailed how Mr. Unachukwu had transferred N320m to accounts linked to Ngwaka’s companies, Edunaco Multiple Resources Limited and Bright Janes World, for the procurement of $200,000 to facilitate the importation of goods from China.
However, despite presenting fake telex confirmations purportedly from Zenith Bank, investigations revealed that the funds never reached the intended Chinese suppliers.
Detectives from the Special Investigations Team of the Anti-Fraud Section at the FCID swiftly acted on the case, securing a warrant and arresting Ngwaka.
A black 2024 Toyota Hilux, bearing a fraudulent Presidency number plate, was recovered from the suspect.
Investigators also discovered a fake identity card falsely identifying Ngwaka as a consultant for the Federal Ministry of Labour and Employment, along with a fabricated letter purportedly from the Head of Service of the Federation requesting a Presidency number plate allocation.
Further investigations revealed that Ngwaka had no valid license to operate as a Bureau de Change operator, despite claims of association with Phobia BDC Ltd., whose license had been revoked earlier in the year. It was also uncovered that Ngwaka had used part of the defrauded funds to purchase the Toyota Hilux.
The case has taken a broader dimension as more victims have come forward with complaints against Ngwaka. Among them are Moses Chizoba Enechukwu, seeking the recovery of N1bn, and Chinedu Nwaforcha, who claims to have lost N840m to the fraudster.
The Police Public Relations Officer for the FCID Annex, Lagos, Mayegun Aminat, confirmed that Ngwaka and his accomplices would face prosecution upon completing investigations.
She urged members of the public to remain vigilant and report any fraudulent activities, emphasizing that anyone caught engaging in such schemes would face the full force of the law.
“Upon the conclusion of the investigation, Ngwaka, along with his co-conspirators, will be charged to court for prosecution.
“The Assistant Inspector General of Force CID Annex Lagos urges the public to remain vigilant and report any similar fraudulent activities to the relevant authorities. Citizens are further warned that anyone involved in such illegal activities will face the full consequences of the law,” Mayegun said via her X handle @mayegunAmina.
Police Arrest Alleged Serial Fraudster For N320m Scam In Lagos is first published on The Whistler Newspaper
