BUSTED!!!:Undergraduates Arrested For N2.05bn Fraud.

Nigeria Niger Nigeria...When will all this crimes,frauds,kidnapping robbery and the rest of atrocities stop in this oil producing country of ours...?any way let the soul that sin die...!(any criminal caught must be punished)...lol...

To The EFCC..wetin una dey carry our recovered money do...no monkey dey work and baboo go dey chop this time around...!!!lol...

Bellow is how the Punchng.com are reporting it the crime...

The Economic and Financial Crimes
Commission has arrested two young men
who claimed to be undergraduates of the
University of Jos, Isaiah Friday and Azzaior
Samuel, for an alleged N2.05bn fraud.
Two bureau de change operators, Salihu
Mahmoud and Dan Ibrahim, were also
arrested in connection with the alleged
crime.

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The suspects were also accused of being
members of a syndicate that specialised in
breaking into the computer data base of
financial institutions to carry out dry
posting of funds.
The Head, Media and Publicity, EFCC,
Wilson Uwujaren, said the suspects were
arrested in Lagos and Jos.
He said, “Their arrest comes on the heels of
a petition which the commission received
from Union Bank of Nigeria Plc, Marina,
Lagos, in January 2013, alleging that a
criminal attack had been launched on its
data base known as ‘Flexcube’, by yet-to-
be-identified criminals who falsified the
bank records and accounts and created
unjustified huge opening balances in
several accounts across the bank’s
branches. They subsequently transferred
funds from those accounts to several
accounts in other banks.

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“The petition, which was signed by one A.F
Olufade, Head of Fraud Investigation at the
bank, said cash withdrawals and electronic
transfers totalling N2.05bn was involved in
the scam.”
It was learnt that EFCC initial investigation
showed that Friday, who was carrying out
computer system maintenance services for
one of the Union Bank branches in Jos,
Plateau State, on a part-time basis, paved
the way for the fraudsters to penetrate the
bank’s database.
Uwujaren said, “Friday was traced and
arrested. His arrest led to the arrest of
Azaaior Samuel.

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“Investigations further revealed that Samuel
introduced Friday to Mahmoud, who is the
mastermind of the fraud with others now at
large.
“Mahmoud and other collaborators told
Friday that they needed access to the
bank’s database in order to carry out some
postings. They promised to give Friday
N.5m if the deal succeeded.”
PUNCH Metro gathered that Friday agreed.
On the day the crime was committed, he
told people at the bank that Samuel was
his colleague who had accompanied him to
work.

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It was learnt that after the gang had
succeeded in gaining access to the bank’s
premises, it carried out the postings to six
different company accounts domiciled in
Union Bank’s Marina branch in Lagos.
Uwujaren said, “The accounts are Gona
Bureau De Change Limited, Jaxmine Bureau
De Change Limited, Dan Kawu Bureau De
Change Limited, Godswill Great
Communications, ZHG Services Limited and
A and B Console Limited. The postings were
carried out and the syndicate thereafter
went to the bank to withdraw all the funds.
Friday was paid as promised and other
syndicate members now at large shared the
remaining balance.”
The EFCC spokesman added that the
commission had been able to recover $
2,129,900 and another N134,542, from the
fraudsters.
He said, “Other items recovered are
furniture worth N10m from Salihu Liman’s
one bedroom apartment in Yaba, Lagos;
four vehicles, landed properties in Kano
and Kaduna and a four-bedroom duplex
worth N45m in Lagos.

Investigation into the scam continues.”

Source:punchnewsonline  

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