N320 Million Scam: Nigerian Police Uncover Major Fraud Operation, Recover Fake Presidency Number Plate
Operatives of the Nigerian Police Force has arrested a suspected serial fraudster, Chinedu Ernest Ngwaka, over an alleged N320 million fraud. The arrest followed a petition submitted on September 9, 2024, to the Assistant Inspector General of Police, FCID Annex, Lagos, by Chinedu Laz and Partners (Deo Gratia Chambers) on behalf of Mr. Tochukwu Unachukwu, Managing Director of Casco Electronics Company Limited. The petition implicated Ngwaka and his wife, Janet Onyekachi Ngwaka, in a fraudulent scheme.
Investigations by detectives from the Anti-Fraud Section of the FCID Annex revealed that between March and May 2024, Mr. Unachukwu transferred N320 million to accounts owned by Ngwaka and his wife under Edunaco Multiple Resources Limited and Bright Janes World. The funds were intended for the purchase of $200,000 to facilitate a business transaction with Chinese suppliers. However, fraudulent documents, including a fake telex confirmation from Zenith Bank, were used to deceive Mr. Unachukwu, while the suppliers confirmed no payments were received.
During the operation, police recovered a black 2024 Toyota Hilux with a fake Presidency number plate and a series of forged documents, including a false identity card from the Ministry of Labour and Employment and a fraudulent letter from the Head of Service of the Federation. Further checks revealed that Ngwaka falsely operated under the name Phobia BDC Ltd., despite the company's license being revoked earlier this year.
Ngwaka, who purchased the Hilux shortly after the fraudulent transaction, now faces multiple allegations. Separate petitions from Mr. Moses Chizoba Enechukwu and Chinedu Nwaforcha allege additional frauds totaling N1 billion and N840 million, respectively.
The Assistant Inspector General of Police, FCID Annex Lagos, has assured that Ngwaka and his accomplices will be charged to court upon the conclusion of the investigation. The public is urged to remain vigilant and report suspicious activities, with a stern warning that offenders will face the full weight of the law.
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