Just In: Popular and Wanted Lagos Car Scammer Arrested After N1bn Fraud
- Lagos Police arrested the alleged mastermind behind a vehicle fraud syndicate linked to the acquisition of 29 exotic vehicles worth over N1 billion
- The suspect had been on the run before confessional statements from other arrested members identified him as the ringleader
- Police have so far recovered 16 vehicles using the AUTOREG tracking platform, but vehicles worth about N534 million remain outstanding
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The Lagos State Police Command has arrested the suspected leader of a vehicle fraud syndicate accused of fraudulently obtaining 29 exotic vehicles valued at more than N1 billion from unsuspecting dealers across the state.
It was said that the suspect had evaded arrest for an extended period before investigators closed in on him, following confessional statements made by other members of the syndicate who had already been apprehended. Their statements pointed to him as the alleged mastermind behind the entire operation.
Source: Twitter
Lagos: How the syndicate operated
According to a police source, the group specialised in approaching vehicle dealers with false representations, using post-dated cheques and unfamiliar intermediaries to secure high-value cars before converting them for personal use. The source warned dealers to verify the identities and credentials of prospective buyers before completing any transaction, particularly when payment involves post-dated cheques.
Following the suspect's arrest, Lagos State Commissioner of Police Mr Fatai Tijani directed the State Criminal Investigation Department (SCID) in Yaba to intensify its operations and track down remaining members of the syndicate still at large.
Lagos: 16 vehicles recovered so far
Intelligence-led policing and the AUTOREG vehicle tracking platform have been central to the ongoing recovery effort. Of the 29 vehicles involved, 16 have been located, and 12 of those have been returned to their rightful owners. Vehicles estimated at about N534 million in value remain unaccounted for, and efforts to recover them are continuing.
The investigation is being handled by the Financial Crimes Section of the SCID, Yaba, under the supervision of Deputy Commissioner of Police Mr Dayo Akinbisehin.
Source: Legit.ng
