A Federal High Court has granted a forfeiture order over bank accounts and assets linked to an alleged N8.585 billion fraud currently under investigation by the Police Special Fraud Unit, Ikoyi, Lagos.
The order affects Plaude Technologies Limited, Omberra Commodities Limited, Olatomiwa Adebayo Idowu, Osikoya Oladayo Joshua and Ibunkun Oluwa Boluwatife Adebayo, alongside several accounts believed to be connected to the alleged financial crime.
Details of the development were contained in a statement issued on Monday by the Public Relations Officer of the unit, DSP Ovie Kenneth Ewhubare.
According to the statement, the case originated from a petition filed by a financial institution which accused the suspects of using false representations and fraudulent schemes to obtain huge sums of money.
The police said investigators adopted intelligence-driven strategies during the probe, extending investigations to different financial institutions as well as Nigeria’s apex financial regulatory agency.
Findings by detectives allegedly showed that Plaude Technologies Limited did not possess the operational and financial strength required to fulfil commitments and representations said to have been made to investors and business partners.
The statement further alleged that a director of the company, identified as Osaretin Jonathan, moved funds through multiple bank accounts in what investigators described as money laundering activities.
Based on the outcome of the investigation, the PSFU approached the Federal High Court and secured a forfeiture order against the affected assets and accounts pending the completion of investigations.
Reacting to the development, the Commissioner of Police in charge of the PSFU, CP Eloho Edwin Okpoziakpo, applauded the operatives handling the case for their resilience and professionalism.
He reaffirmed the determination of the unit to sustain the fight against financial crimes and protect the integrity of the country’s financial system.