Lagos State Police Command has uncovered an alleged vehicle fraud syndicate accused of defrauding automobile dealers of exotic vehicles worth more than ₦1 billion through the use of dud and post-dated cheques.
The Commissioner of Police, CP Tijani Fatai, disclosed this on Tuesday at the command headquarters in Ikeja while briefing journalists on recent breakthroughs recorded by the command.
According to him, one member of the syndicate, Fatai Balogun, has been arrested, while the alleged ringleader, Otunba Ismaila Olamilekan, popularly known as Otunba Jaji, is currently on the run.
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The police commissioner advised automobile dealers to conduct thorough due diligence before releasing vehicles to prospective buyers.
He explained that the command initially received multiple complaints from different victims at different times before investigators discovered that the cases were connected.
“However, thorough and painstaking investigations by detectives of the State Criminal Investigation Department (SCID), Panti, revealed striking similarities in the methods employed by the suspects, leading to the harmonisation of the investigations,” he said.
According to the police, investigations uncovered a coordinated criminal syndicate that allegedly specialised in obtaining exotic vehicles from unsuspecting dealers through deception, issuing dud and post-dated cheques, and converting the vehicles for personal gain.
CP Fatai said the first case involved a suspect identified as Muritala, who allegedly obtained vehicles after falsely assuring dealers that payment would be made after the vehicles were sold.
“During interrogation, the suspect confessed to the crime and mentioned one Fatai Balogun, also known as Eleku, as his accomplice,” the commissioner said.
Further investigations revealed that Balogun was already being investigated by the SCID over a similar offence.
The commissioner said Balogun admitted participating in the fraudulent transactions and allegedly disclosed that the vehicles were handed over to Otunba Olamilekan Ismail, who remains at large.
Police investigations further linked Balogun to the alleged fraudulent acquisition of 12 exotic vehicles from different dealers.
Using intelligence-led operations and the AUTOREG vehicle tracking platform, detectives recovered several vehicles, including a 2010 Toyota RAV4, a 2007 Toyota Highlander, and a 2017 Toyota Highlander.
CP Fatai said a second investigation stemmed from complaints filed by three separate victims against Balogun, Olamilekan, and other suspects over allegations of conspiracy, fraudulent conversion, issuance of dud cheques, and stealing.
According to him, the suspects allegedly obtained seven luxury vehicles valued at about ₦700 million after claiming they were purchasing them for prominent politicians in Abuja.
He said payment was made with post-dated cheques, all of which were dishonoured when presented at the bank.
Speaking with journalists, Balogun admitted collecting several vehicles from different automobile dealers but claimed he acted on the instructions of the fleeing suspect.
According to him, Otunba Olamilekan told him the vehicles had been ordered by politicians in Abuja and promised him 30 per cent of the proceeds from their sale.
The police said efforts are ongoing to apprehend the fleeing suspect and recover additional vehicles linked to the alleged fraud syndicate.
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