EFCC arrests suspected fraudsters over N768m loan scam

Uba Group


The operatives of the Economic and Financial Crimes Commission have reportedly arrested two suspected fraudsters, Konne Barieeba and Osuji Obieze, for obtaining the sum of N768.6m under false pretence.

The Lagos State Command of the Commission on Monday disclosed that the two suspects, alongside one Obialor Worenwu, who is on the run allegedly requested for a loan from an investment company, Luxury Gold.

According to EFCC, Barieeba’s GTBank account was credited with N110 million, while Obieze’s First City Monument Bank account was credited with the sum of N255 million with the GTBank account of the third suspect, Worenwu, still at large, credited with the sum of N403.6 million.

The loans were scheduled for repayment in March, 2021, but efforts by the petitioner to recover the money from the suspects were said to have failed.

According to investigations, the suspects converted the money to procure items such as cars, jewelleries and landed properties.

The Commission said it recovered some exotic cars, diamond jewelleries, two laptop computers, iphone devices, two Apple Macbooks and other mobile devices from the suspects.

Other items that were recovered from them included landed properties that were said to have been bought with the money.

Spokesman to the EFCC, Wilson Uwujaren, said the suspects would soon be charged to court.