The Police Special Fraud Unit, Milverton Road, Ikoyi, Lagos State has arrested Ikeocha Daniel Kelechi and Sylvester Ebeta for alleged offences bordering on conspiracy, fraudulent conversion, diversion and stealing of N613,980,200.00 belonging to a leading Nigerian financial technology company.
It was gathered that after committing the crime, the suspects disabled their mobile lines, relocating from known addresses.
This was in their bid to evade justice, but Ebeta and Kelechi were later tracked and arrested by PSFU detectives.
The Unit’s spokesman and a Superintendent of Police, Eyitayo Johnson, said the alleged offences, which occurred between January 19, 2022 and October 12, 2023, resulted from a system-network glitch that led to some Payment Gateway Web Merchants of the firm getting multiple credits for refunds initiated to cardholders by the merchants.
Johnson further said: “These refunds were then settled to the merchants’ accounts in various banks and subsequently withdrawn-transferred by the merchants.
“Mr Ikeocha Daniel Kelechi unlawfully benefited and converted N402,980,200.00, while Mr Sylvester Ebeta fraudulently converted, and diverted N211,000,000.00.
“The duo took advantage of the glitch to make multiple withdrawals totalling the aforesaid sums and distributed the same to themselves, in other banks, friends and relations.
“The duo made confessional statements where they admitted their roles in the crime. Criminal charges have been filed against the suspects by the Unit’s Legal Section.”
