EFCC Apprehends 791 Suspects Over Alleged Cryptocurrency Fraud

One of the complex’s offices where the foreigners were detained on suspicion of fraud

Additionally, they are given WhatsApp accounts associated with international phone numbers, particularly those from Italy and Germany.

They lure victims into purchasing on the alleged online investment shopping site, www.yooto.com, by posing as romantic partners and having fictitious business and investment chats. The platform charges an account activation fee of $35 USD for individuals who express interest.

According to the investigation, the requirement for hiring these young Nigerians is computer ability, particularly in the area of typing. Following a two-week indoctrination on how to pose as foreign women in romance scam chats and persuade victims to invest in their employers’ cryptocurrency investment fraud, those who passed the test are handed desktop computers and mobile devices.

“The foreigners would take over the actual task of defrauding the victims and proceed to block their Nigerian accomplices from the network once the Nigerians were able to gain the trust of the potential victims.” They would then be unaware of the transaction as a result.

Since they do not receive appointment letters or money from a corporate account, Nigerians are surprisingly unaware of the proprietors of the “company” they work for.

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According to the results of the investigation, they are paid in cash or via a person’s account.
The scope of the scam and its perpetrators, as well as the possibility of any cooperation with international organized crime units, are still being investigated.

In this context, the Commission is collaborating closely with its international partners. Cars, laptops, mobile phones, and desktop computers were among the items found on the suspects.

In addition to having their systems tested, the suspects have given statements. They will be arraigned in court in the next few days and are presently being held under a legitimate remand warrant.

However, this arrest makes it quite evident that the idea that Nigerians are responsible for the numerous scams coming out of our nation is untrue. In order to get a footing and conceal their heinous criminal activities, foreigners are exploiting our country’s regrettable reputation as a haven for scammers.However, as this operation has demonstrated, Nigeria will not provide criminals with any hiding places.