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EFCC arrests five for $257,822 credit card fraud

EFCC arrests five for $257,822 Credit Card Fraud

Operatives of the Economic and Financial Crimes Commission, EFCC have smashed a syndicate of alleged fraudsters who specializes in credit card fraud.

The arrested suspects, Daniel C. Stephen, Nestor Ezeani, Sonny Okwaraji, Sylvester E Otuwa and Jeff Ogbonaya, allegedly masterminded the theft of $257,822.16 American Dollars from a new generation bank.

The alleged fraudulent transaction was reported by the Bank through a petition, alleging that the bank received a mail from VISA International on suspected 60 credit card transactions.

The EFCC in a swift action moved and arrested the five suspects at 7th Avenue FESTAC, Lagos.

A statement issued by the EFCC, said they were arrested with several credit cards in their possession, which they use in loading money before transferring them to other banks.

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Some of the suspects have made useful statements while investigations continue.

They will be charged to court as soon as investigations are concluded.

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