The Economic and Financial Crimes Commission, EFCC, has busted a massive international syndicate behind cryptocurrency investment and romance scams, arresting 792 suspects during a high-profile raid in Lagos.
The operation, conducted at the seven-storey Big Leaf Building in Victoria Island, uncovered a hub designed to resemble a corporate financial headquarters. Among the suspects were 193 foreign nationals, including 148 Chinese, 40 Filipinos, and others from Kharzartan, Pakistan, and Indonesia.
EFCC Director of Public Affairs, Wilson Uwujaren, revealed that the building was used to train Nigerian recruits in advanced scam techniques targeting victims in the U.S., Canada, and Europe. Investigators recovered high-end computers and over 500 SIM cards.
The recruits, many of them Nigerian youths with computer expertise, underwent a two-week training on impersonation tactics. They used platforms like WhatsApp and Telegram to lure victims into a fake investment site, ‘www.yooto.com,’ with activation fees starting at $35.
Recruits were paid in cash or through personal accounts, unaware of the operation's full scale. After victims were secured, foreign masterminds completed the fraud, leaving recruits in the dark.
Uwujaren highlighted the global nature of the crime, stating, “Foreign nationals are exploiting our reputation to establish fraud networks.”
Recovered items included laptops, mobile phones, and vehicles. All suspects are currently detained under a valid remand warrant, and the EFCC is preparing to arraign them in court.
The EFCC is collaborating with international partners to ensure justice is served. Uwujaren assured, “There will be no hiding places for criminals in Nigeria.”
This operation exposes the international dimensions of cybercrime while reaffirming Nigeria’s commitment to fighting fraud. Stay tuned for more updates
