The Police Special Fraud Unit (PSFU), Lagos, has arraigned an employee of an investment company, Bello Saheed Samuel, before the Federal High Court in Lagos over an alleged ₦90 million insider fraud.
Samuel was docked on charges bordering on conspiracy and money laundering in connection with the alleged diversion of company funds for personal use.
According to the PSFU, led by Commissioner of Police Kayode Ojapinwa, the suspect worked in the finance department of the affected firm and allegedly converted the funds through unauthorized transactions.
The case followed a formal complaint by the company, prompting an immediate investigation by operatives of the unit. Police said Samuel fled Lagos with members of his family and cut off communication after discovering that his activities had been uncovered.
Investigators tracked him across several South-West states before arresting him in Oye-Ekiti Local Government Area of Ekiti State.
Further findings showed that the suspect allegedly laundered the proceeds of the fraud through the bank accounts of friends and relatives to conceal the origin of the funds.
Police said while Samuel is currently facing trial, efforts are ongoing to apprehend other individuals believed to be connected to the crime.
Ojapinwa reiterated the unit’s commitment to combating financial crimes and urged corporate organisations and members of the public to strengthen internal control systems and ensure lawful transactions to prevent insider abuses.
The statement was signed by the Police Public Relations Officer, DSP Ovie Kenneth Ewhubare, on behalf of the Commissioner of Police, PSFU, Lagos.
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