Nigerian fraudster stole $5 million from Australian investors
Date: 2024-12-16 Author: Gabriel Deangelo Categories: IN WORLD
A suspect was detained at the Murtala Mohammed International Airport in Lagos while returning from the United States. According to Dele Oyewale, a spokesman for the Nigerian Economic and Financial Crimes Commission (EFCC), the man promoted the fraudulent platform Liquid Asset Group through social media. Victims were convinced to invest in cryptocurrency, after which they faced large financial losses.
According to investigators, the suspect used the names of famous people to increase the credibility of his scheme. As a result of his actions, 139 Australian citizens suffered, losing about 8 million Australian dollars (approximately $5 million). The funds received from the fraud were transferred to bank accounts through cryptocurrency exchanges.
The EFCC confirmed that the investigation is ongoing and that the suspect will be formally charged once it is completed.
Earlier in November, the Nigerian Securities and Exchange Commission (SEC) warned investors about the fraudulent activities of crypto exchange Marino FX, which falsely claimed to have a license to operate in the country. In addition, the SEC has drafted a bill that will increase penalties for crypto fraud, providing for both long prison terms and significant fines.
