The Lagos State Police Command has uncovered a suspected vehicle fraud syndicate accused of obtaining exotic vehicles worth over N1.02 billion from automobile dealers through fraudulent transactions, with several vehicles recovered and a manhunt launched for fleeing members of the network.
Commissioner of Police Tijani Fatai disclosed the development on Tuesday while briefing journalists on the outcome of investigations conducted by detectives at the State Criminal Investigation Department (SCID), Panti.
According to him, detectives merged three separate complaints after discovering that they were linked by a common pattern of operation involving conspiracy, obtaining goods by false pretence, fraudulent conversion, stealing and the issuance of dud cheques.
Fatai said investigations revealed that the syndicate deceived vehicle dealers into releasing luxury vehicles by claiming they were purchasing them on behalf of influential clients or for political purposes. The suspects allegedly issued post-dated or dud cheques as payment before disposing of the vehicles to third parties.
He said the fraud involved vehicles valued at more than N1.02 billion, including seven luxury vehicles worth about N700 million and 10 Toyota Hiace buses valued at N320 million. Investigators also linked the syndicate to another 12 exotic vehicles allegedly obtained through similar means from different dealers.
In one of the cases, a suspect identified as Muritala allegedly confessed to collecting vehicles with the promise of paying after selling them. During interrogation, he implicated Fatai Balogun, popularly known as “Eleku,” who was already under investigation for related offences.
The police commissioner said Balogun admitted his involvement and told investigators that the vehicles had been delivered to one Otunba Olamilekan Ismail, who is currently on the run.
Using intelligence gathering and the AUTOREG vehicle tracking platform, detectives recovered a 2010 Toyota RAV4, a 2007 Toyota Highlander and a 2017 Toyota Highlander linked to the syndicate.
Fatai said another investigation began after three victims accused Balogun, Olamilekan and others of fraudulently obtaining seven luxury vehicles by claiming they were supplying them to prominent politicians in Abuja. The payment, made through post-dated cheques, failed after the cheques were returned unpaid.
He said the principal suspect admitted selling the vehicles to different buyers, while police recovered a 2020 Toyota Hiace bus and a 2018 Ford Edge SUV during the investigation.
In a separate case, Balogun, Bashiru Babatunde and other suspects allegedly acquired 10 Toyota Hiace buses worth N320 million after claiming they were acting on behalf of one Alhaji Ismaila and another suspect identified as Segun, both of whom remain at large.
According to the commissioner, the cheque used for the transaction was dishonoured due to insufficient funds. Detectives later recovered eight of the buses, although they had sustained damage, while two buses valued at N56.5 million are yet to be recovered.
Fatai said those arrested admitted participating in the fraud and claimed the vehicles were procured on the instructions of Alhaji Ismaila for alleged political campaign activities.
He said investigations showed the syndicate repeatedly targeted established vehicle dealers, used dud or post-dated cheques to secure vehicles, quickly transferred the vehicles to unsuspecting buyers and concealed the identities of the masterminds through intermediaries.
The commissioner said efforts were ongoing to arrest all fleeing suspects and recover the outstanding vehicles.
He also advised vehicle dealers to verify payments thoroughly before releasing vehicles, especially where transactions involve post-dated cheques or unknown agents, assuring residents that the command would continue its crackdown on organised criminal networks operating within and outside Lagos State.
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