The Lagos State Police Command has arrested four bank employees for allegedly orchestrating a fraudulent scheme that siphoned over £138,924 (more than N270 million) from international airline accounts through money laundering and unauthorized transactions.
The command’s spokesperson, CSP Benjamin Hundeyin, disclosed the arrests during a press briefing at the state police headquarters in Ikeja on Monday.
“The suspects conspired to divert funds from domiciliary accounts into personal accounts before redistributing them to multiple destinations to evade detection,” Hundeyin stated.
How the Fraud Was Uncovered
According to the police, the affected bank discovered unauthorized withdrawals and immediately alerted law enforcement. Subsequent investigations led to the arrest of the suspects at different locations:
- Oluwatobiloba Olaleye (27) – Arrested on March 12, 2025, in Ogun State. A Toyota Camry 2012/2013, suspected to be a proceed of the crime, was recovered from him.
- Oladunjoye Adegoke (33) – Arrested on March 13, 2025, in Victoria Island, Lagos. Another Toyota Camry (Pencil Light), also suspected to have been purchased with stolen funds, was seized.
- Austin Alfred (38) – Supervisor of the Trade Services Department. He allegedly facilitated the illegal transfer of funds to foreign accounts.
- Jude Uzobuaku (36) – A processor in the Trade Services Department, who was also implicated in enabling the fraudulent transactions.
Money Laundering Operation
Investigators revealed that the stolen funds were initially funneled into an account controlled by one of the suspects before being dispersed across multiple other accounts to cover their tracks.
Authorities are now working to identify additional accomplices and recover the remaining funds.
“The suspects are in custody and will face prosecution as the investigation continues,” Hundeyin assured.
Meanwhile, the police have urged the public to report suspicious financial activities, emphasizing their commitment to tackling economic crimes and fraud in the banking sector.
