Justice Yellim Bogoro of the Federal High Court sitting in Ikoyi, Lagos, on Monday sentenced a staff member of Ecobank Plc, Solomon Stephen Ufayo, to one year imprisonment for cybercrime involving the fraudulent manipulation of a customer’s bank account to … Continue reading Bank official bags one-year jail term for N2.4m fraud
AGS NEWS – A former Group Managing Director of FirstBank, Dr. Bisi Onasanya, has dismissed allegations linking him to a commercial loan transaction conducted 12 years ago. In a statement released on Sunday by his communications advisor, Mr. Michael Oshunuyi, … Continue reading Ex-FirstBank boss Onasanya dismisses fraud allegation
AGS NEWS – A High Court in Abuja has summoned former Kogi State Governor, Yahaya Bello, to appear for arraignment on October 24. Bello, along with Umar Oricha and Abdulsalami Hudu, faces 16 new charges filed by the Economic and … Continue reading Court summons Yahaya Bello over alleged N110bn fraud
AGS NEWS – The Economic and Financial Crimes Commission (EFCC), has arrested a former governor of Taraba State, Darius Ishaku, over an alleged fraud of N27bn. Ishaku was reportedly picked up at his Abuja residence in the early hours of … Continue reading EFCC arrests former Governor over alleged N27bn fraud
AGS NEWS – Popular American singer, Sean Kingston has been indicted for participating in a $1 million wire fraud scheme. Sean Kingston was indicted on Friday, alongside his mother, Janice Turner, in a Miami federal court. The scheme allegedly involved … Continue reading American singer, Sean Kingston, mother indicted over $1 million fraud
AGS NEWS – A Nigerian man named Victor Uzor, aged 36, has received a 48-month prison sentence, along with three years of supervised release and over $1 million in restitution. This comes after his involvement in a business email compromise … Continue reading Nigerian national Victor Uzor receives four-year sentence for $1.1m wire fraud in US
AGS NEWS – Rural Electrification Agency’s Managing Director, Ahmad Salihijo Ahmad, and three executive directors have been suspended by President Bola Tinubu due to an alleged fraud of ₦1.2 billion. The suspension follows findings from an investigation into financial activities, … Continue reading Tinubu suspends rural electrification agency MD & 3 others for ₦1.2bn fraud
The House of Representatives is set to commence an inquiry into the alleged mishandling of COVID-19 intervention funds spanning from 2020 to 2022. The investigative hearings, organized by the House Public Accounts Committee, are scheduled to take place from January … Continue reading Reps launch investigation into alleged fraud of COVID-19 funds
Idris Musa has been convicted and sentenced to ten years in prison by Justice A.A Bello of the Kaduna State High Court for engaging in Automated Teller Machine (ATM) fraud. The conviction follows his guilty plea to a one-count charge … Continue reading Man receives 10 year jail term for ATM fraud in Kaduna
The United States Securities and Exchange Commission (SEC) has accused Tingo Group Inc. and its CEO, Mmobuosi Banye, also known as Dozy Mmobuosi, of engaging in a multi-year scheme to inflate financial performance metrics. ALSO READ: Osimhen secures €140 million … Continue reading SEC accuses Nigerian businessman and firms of multimillion dollar fraud
The Economic and Financial Crimes Commission (EFCC) has brought charges against Alhassan Musa, an acting director at the Renewable Energy Department, Energy Commission of Nigeria, for allegedly defrauding a certain Musa Baba of the sum of N3,800,000 in connection with … Continue reading Energy commission director faces EFCC charges in N3.8m contract fraud case
As of the end of September 2023, Pension Fund Administrators (PFAs) have channeled N130.18 billion of funds under the Contributory Pension Scheme (CPS) into infrastructure investments, according to data from the National Pension Commission (PenCom). The figures, obtained from the … Continue reading Pension fund administrators allocate N130 billion to infrastructure investments – PenCom
Colombian music artist Shakira, widely known as the “Queen of Latin Pop,” is facing trial in Barcelona over a tax fraud case pursued by Spanish prosecutors. The 46-year-old singer is accused of defrauding the Spanish state of 14.5 million euros … Continue reading Shakira faces trial over alleged tax fraud in Spain
After 15 days of trial and about four and a half hours of jury deliberations, Sam Bankman-Fried, the founder of crypto exchange FTX, was found guilty on seven counts of fraud and conspiracy in connection to the exchange’s collapse. The … Continue reading Former crypto billionaire, Sam Bankman-Fried, convicted of seven counts of fraud
Donald Trump Jr. testified on Wednesday, asserting that he played no role in the preparation of financial documents for the family real estate company as he appeared in the $250 million civil fraud trial in New York. The lawsuit alleges … Continue reading Donald Trump Jr. appears in $250m civil fraud trial testimony
Governor Peter Mbah of Enugu State has established a seven-member investigative committee to scrutinize the operations of the state College of Education (Technical). This move follows allegations of mismanagement and corrupt practices within the institute and its Governing Council. The … Continue reading Enugu initiates probe into alleged college fraud and mismanagement
Over the past two years, a disturbing pattern has emerged, revealing that a substantial number of both senior bank executives and junior staff members, totaling at least 110 individuals, have been dismissed due to their involvement in fraud-related activities. This … Continue reading 110 executives and staff dismissed for involvement in N82 billion bank fraud
A man named Onyebuchi Remi Enusoi was apprehended on allegations of defrauding a Point of Sale (PoS) operator of N100,000 in Kwale, Delta State. The incident was shared by Odubenu Constance Anumati through a Facebook post on August 24, 2023. … Continue reading Man arrested for N100,000 fraud against PoS operator in Delta
Nigerian Businesswoman Declared Wanted by INTERPOL for ₦750 Million Fraud” INTERPOL has issued a bulletin declaring Ese Cynthia Daniel, a Nigerian businesswoman, as wanted for an alleged ₦750 million fraud. The arrest warrant was issued by the Lagos State magistrate … Continue reading INTERPOL issues arrest warrant for Ese Cynthia Daniel in ₦750 million fraud case
The National Pension Commission (PenCom) has refuted the circulation of documents claiming that its Director-General, Mrs. Aisha Dahir-Umar, spent exorbitant amounts on travel during the COVID-19 pandemic. In a statement, PenCom dismissed the accusations as a mere fabrication without any … Continue reading PenCom clears DG of fraud allegations
Olamide Yusuf Bakare, a Nigerian national residing in Maryland, USA, has been sentenced to four years and nine months in prison for conspiring to commit wire fraud during the COVID-19 pandemic. Bakare, along with co-defendants Quazeem Owolabi Adeyinka and Ayodeji … Continue reading 26 year old Nigerian sentenced to prison for COVID-19 wire fraud in the USA
American rapper G Herbo, whose real name is Herbert Wright, has reached a plea agreement in a wire fraud case related to stolen identities. He and five associates, including promoter Antonio Strong, were accused of using stolen identities to make … Continue reading US rapper G Herbo set to plead guilty in wire fraud scheme
The Federal High Court in Abuja has scheduled July 21 as the date for the arraignment of Senator Stella Oduah and other defendants by the Economic and Financial Crimes Commission (EFCC). The court fixed the date following a request by … Continue reading Court sets July 21st for arraignment of Sen. Stella Oduah in alleged N5bn fraud case
A report by FITC has unveiled that bank customers in Nigeria encountered a loss of N472 million to fraudulent activities during the first quarter of 2023. The report, obtained from FITC’s website, also indicated that there were a total of … Continue reading Report reveals that bank customers in Nigeria lose N472m to fraudsters in three months
A 31-year-old Nigerian citizen, Uchenna Christian Nlemchi, has been extradited from Hungary to the United States to face multiple fraud charges. The United States Attorney’s Office for the District of New Mexico announced on Thursday that Nlemchi was charged with … Continue reading Nigerian man extradited from Hungary to the US to face fraud charges
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