EFCC arrests businessman over alleged $120m fraud

The Economic and Financial Crimes Commission, EFCC, has arrested Innocent Ozoemena Ezuma, an Abuja-based businessman accused of defrauding a Ukrainian capitalist of much than $120 cardinal successful a strategy allegedly spanning astir 2 decades.

Ezuma, 57, was arrested successful Abuja connected Monday, October 19. An authoritative of the anti-graft bureau who did not privation to beryllium named confirmed that the businessman was taken into custody connected Monday.

He faces allegations of beforehand interest fraud, transgression breach of trust, transgression conversion, obtaining wealth nether mendacious pretences, theft and wealth laundering.

Ezuma's apprehension followed collaboration with planetary investigators and accusation provided by whistle-blowers wrong his organisation, according to details of the case.

The EFCC alleges that Ezuma obtained much than $120 cardinal from the capitalist betwixt 2007 and 2015 for mineral exploration and powerfulness projects that were ne'er delivered. The funds were allegedly diverted for idiosyncratic use.

The committee besides uncovered alleged transfers of billions of...