EFCC Arraigns Man for $1,410,000 Fraud in Lagos

The Lagos Zonal Command of the EFCC, on Friday, March 11, 2022, arraigned one Kolawole Adedayo Erinle alongside his firm, Rinde-Remdex Nigeria Limited before Justice Oluwatoyin Taiwo of a Special Offences Court sitting in Ikeja, Lagos on an amended three-count charge bordering on conspiracy, retention of proceeds of criminal conduct, and obtaining money under false pretence to the tune of $1,410,000 (One Million Four-Hundred and Ten Thousand United States Dollars).

The defendant is alleged to have engaged in Business Email Compromise, BEC, fraud to defraud his victim.

The fraudulent case, which was reported to the EFCC by the Federal Bureau of Investigation (FBI), alleged that in 2019, Kansas City University of Medicine and Biosciences (KCUMB), transferred $1,412,509 USD to an account believed to be that of a contractor.

Investigation into the alleged crime, however, revealed that the defendant benefited the fund, which was transferred in two tranches to a company in Nigeria.

The defendant on receipt of the fund, disbursed it to his wife, mother and cronies.

The proceeds were further traced to fixed deposits, assets; landed and vehicular, that he purchased.