LAGOS INVESTMENT WORKER ARRAIGNED FOR DIVERTING N90M TO PERSONAL ACCOUNTS
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By Aishat Momoh. O.
An employee of a Lagos-based investment company, Bello Samuel, has been arraigned before the Federal High Court in Lagos for allegedly diverting about N90 million from the firm’s account for personal use.
Samuel, who worked in the company’s finance department, was charged with conspiracy and money laundering by the Police Special Fraud Unit (PSFU).
In a statement on Tuesday, PSFU spokesperson Mr. Ovie Ewhubare said the suspect allegedly carried out the fraud through an insider scheme, converting company funds for his own benefit.
“Following a formal complaint by the affected company, operatives of the unit immediately commenced investigation,” the statement read.
Ewhubare disclosed that upon realizing the fraud had been uncovered, Samuel absconded from Lagos with his family, cutting off all communication in an attempt to evade arrest. The investigation extended across several South-West states before he was eventually apprehended in Oye-Ekiti Local Government Area of Ekiti State.
Further investigations revealed that the suspect laundered the stolen funds through the bank accounts of friends and relatives to conceal the source of the money.
While Samuel has been charged to court, authorities are still pursuing other individuals allegedly involved in the scheme.
The Commissioner of Police, PSFU Lagos, Mr. Kayode Ojapinwa, reaffirmed the unit’s commitment to tackling financial crimes, urging corporate organisations to strengthen internal controls and closely monitor employees to prevent insider-related abuses.
It had been previously reported that in January, Justice Rahman Oshodi of the Lagos State Special Offences Court, Ikeja, sentenced 64-year-old former Lagos State education director, Olawale Feliti, to two years and five months’ imprisonment for stealing nearly N49 million from Access Bank Plc.
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