Police arrest suspect in $550,000 fraud, recover assets in Benin

The Nigeria Police Force has recorded a significant breakthrough in its fight against cybercrime with the arrest of a suspect linked to a $550,000 fraud, identity theft, and money laundering scheme targeting a United States-based victim.

The arrest was carried out by operatives of the INTERPOL National Central Bureau (NCB) in Abuja, acting on intelligence gathered during investigations into the cross-border criminal operation.

The case, reported by an American woman, involved a scam that spanned several months, between October 2025 and January 2026.

According to Police authorities, the suspect, identified as Emwanta Eghosa Smith, was apprehended on March 26, 2026, in Benin City, Edo State, following a coordinated operation conducted between March 23 and 26, 2026.

Investigators revealed that Smith allegedly orchestrated the fraud by impersonating high-profile Government officials and other prominent public figures to gain the victim’s trust.

The victim was subsequently deceived into transferring large sums of money through cryptocurrency platforms, a method increasingly exploited by cybercriminals due to its perceived anonymity and difficulty to trace.

Preliminary findings further indicated that the suspect laundered the illicit proceeds through the purchase of luxury assets, including five vehicles and an uncompleted building in Benin City.

The police confirmed that these items have been recovered and secured as exhibits as part of ongoing investigations.

In addition to the assets, officers also recovered counterfeit currency valued at $10,000 from the suspect, raising further concerns about the scale and complexity of the criminal network.

Olatunji  Disu,  Inspector-General of Police, reiterated the Force’s commitment to combating cyber-enabled financial crimes and dismantling transnational fraud syndicates.

He emphasised the importance of sustained collaboration with international law enforcement agencies to ensure perpetrators are brought to justice and victims receive redress.

The police also used the opportunity to warn members of the public to remain vigilant in their online interactions, particularly when financial transactions are involved.

Citizens were urged to verify identities and promptly report suspicious activities to law enforcement authorities.