In a groundbreaking operation, the Economic and Financial Crimes Commission (EFCC) apprehended 792 individuals suspected of perpetrating cryptocurrency investment scams and romance frauds in Lagos.
The sting, which occurred on December 10, 2024, also led to the detention of 193 foreign nationals, including Chinese, Filipino, and other nationalities.Further investigation revealed that the suspects were operating from a lavish, seven-storey complex on Victoria Island, Lagos, equipped with cutting-edge technology and sophisticated communication devices. It was discovered that the foreign suspects were utilizing the facility to instruct their Nigerian collaborators on the art of initiating romance and investment scams, as well as exploiting the identities of their Nigerian accomplices to further their illicit activities.
The EFCC’s investigation also uncovered the suspects’ modus operandi, which involved creating fake online profiles, utilizing phishing tactics to target unsuspecting victims, and engaging in deceitful conversations to trick them into investing in phantom business ventures. The Commission has seized numerous items, including computer hardware, mobile devices, and vehicles, and will prosecute the suspects upon completion of the investigation.
