The Police Special Fraud Unit, Ikoyi, Lagos, has secured a forfeiture order from the Federal High Court over an alleged N8.585 billion fraud involving Plaude Technologies Limited, Omberra Commodities Limited, as well as Olatomiwa Adebayo Idowu, Osikoya Oladayo Joshua and Ibunkunoluwa Boluwatife Adebayo.
The forfeiture order affects Plaude Technologies Limited, Omberra Commodities Limited, as well as Olatomiwa Adebayo Idowu, Osikoya Oladayo Joshua and Ibunkun Oluwa Boluwatife Adebayo were accused of conspiracy, fraudulent conversion, obtaining money under false pretence, stealing and money laundering.
Several bank accounts allegedly linked to the fraud were also affected by the court order.
This was disclosed in a statement issued on Monday by the Public Relations Officer of the unit, Ovie Kenneth Ewhubare.
According to the statement, the investigation commenced after a financial institution petitioned the PSFU, alleging that the suspects obtained the funds through false representations and fraudulent schemes.
The police said detectives deployed intelligence-driven investigative strategies involving multiple financial institutions and Nigeria’s apex financial regulatory authorities.
Investigators allegedly discovered that Plaude Technologies Limited lacked the operational and financial capacity to meet obligations and representations reportedly made to investors and business partners.
The police further alleged that one Osaretin Jonathan, identified as a director in the company, laundered funds through several bank accounts.
Following the findings, the PSFU approached the Federal High Court and obtained a forfeiture order against the affected accounts and assets pending the conclusion of investigations.
The Commissioner of Police in charge of the unit, Eloho Edwin Okpoziakpo, commended the detectives for what he described as professionalism and resilience in handling the investigation.
He also reaffirmed the commitment of the Special Fraud Unit to combating financial crimes and safeguarding the integrity of Nigeria’s financial system.