The Police Special Fraud Unit (PSFU) has successfully obtained a court mandate for the temporary confiscation of assets and bank accounts linked to an alleged N8.58 billion fraudulent scheme. This development was announced on Monday in Lagos by the unit’s spokesperson, DSP Ovie Ewhubare.
Ewhubare revealed that the Federal High Court granted the forfeiture order in a case involving accusations of conspiracy, obtaining money through false pretenses, fraudulent conversion, theft, and money laundering. The affected parties include Plaude Technologies Ltd, Omberra Commodities Ltd, Olatomiwa Idowu, Osikoya Joshua, and Ibunkunoluwa Adebayo, along with multiple bank accounts tied to the investigation.
The inquiry began after the PSFU received a complaint from a financial institution, which alleged that the suspects had acquired funds through deceptive investment schemes and false representations. The police then carried out an extensive intelligence-driven probe involving several financial bodies and Nigeria’s central regulatory authority.
Initial findings indicated that Plaude Technologies Ltd lacked the necessary operational and financial capacity to fulfill commitments made to investors and business partners. Furthermore, authorities alleged that Osaretin Jonathan, identified as a director of the company, moved money across various accounts in what is suspected to be money laundering activities.
Based on these discoveries, the PSFU approached the court and secured an interim forfeiture order for the identified assets and accounts while investigations continue. The Commissioner of Police in charge of the PSFU, CP Eloho Okpoziakpo, praised the investigative team for their professionalism, dedication, and perseverance. He also reiterated the unit’s resolve to combat complex financial crimes and protect the integrity of Nigeria’s financial system.