By Ed Malik, A | ed@ddnewsonline.com | posted november 10th, 2024
The Toronto Police Service and the Nigerian anti-fraud agency, Economic and Financial Crime Commission have achieved a successful investigation and recovery of ill-gotten money from a Canadian citizen by a Nigerian fraudster via the fluid romance scams popular among desperate youths.
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This case exemplifies the growing sophistication of cross-border cybercrimes and the critical role of international cooperation in addressing them. The recovery of $225,000 from a total of $355,000 lost in a cryptocurrency investment fraud highlights the importance of diligent investigative efforts and partnerships between law enforcement agencies in different countries.
The nature of the fraud shows that the scam began in June 2021, with the victim interacting with a Facebook user named “Moshe Theodor McNigh.” The fraudster persuaded the victim to invest in cryptocurrency through a platform aptly called Legacyfxtraders.online, which turned out to be fraudulent. The consequent monetary loss to the victim lost was estimated $355,000 in Canadian funds through this scam.
The victim reported to the Toronto Police Service (TPS) which contacted Nigerian law enforcement for investigation and recovery. The preliminary investigation revealed that the fraudulent activities were carried out in 2021.
The TPS shared their findings, collaborating with Nigerian authorities and EFCC for over three years, leading to the recovery of $225,000, which was returned to the victim in December 2024.
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The intrinsic results achieved underscores the importance of cross-border collaboration and partnerships between law enforcement agencies to combat cybercrime. The recovery demonstrates the possibility of tracing and reclaiming illicitly obtained funds, even in complex cases involving international actors.
Importantly, there are useful takeaways from the recovery process, of which individuals should exercise caution when engaging in online financial transactions, especially through unverified platforms or social media connections. Also, prompt reporting of fraud and cooperation with law enforcement significantly enhance the chances of recovery and justice. The success of this operation is a testament to the effectiveness of international collaborations in tackling increasingly global cyber threats.
Over the last three years, Toronto Police worked with multiple agencies and the EFCC to address the fraud case.
“Over the course of three years, members of Toronto Police from the Coordinated Cyber Centre (C3), 51 Division Fraud Unit, and Financial Crimes Asset Forfeiture Unit worked closely with the Ontario Provincial Police’s Anti-Rackets Branch, Canadian Anti-Fraud Centre (CAFC), Royal Canadian Mounted Police’s (RCMP) International Liaison Officers located in Nigeria, and with Nigeria’s Economic and Financial Crimes Commission – EFCC,” they stated
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The EFCC arrested and charged Nigerian national Omonkhoa Precious Afure in connection with the scam. This case demonstrates Nigeria’s increasing capacity to address financial crimes and ensure justice for victims globally.
The Canadian Anti-Fraud Centre (CAFC) warns that romance fraud and cryptocurrency scams are escalating to epidemic proportions, stating that in 2023 alone, victims reported losses of over $52.5 million to romance scams while investment fraud accounted for over $309 million in losses. However, the Toronto Police Service noted that the actual figures may be significantly higher as only 5-10% of victims report fraud to authorities.
In another ongoing case, the United States Marshals Service (USMS) announced a $25,000 reward for information leading to the capture of Olalekan Abimbola Olawusi, a Nigerian national wanted for first-degree murder and severe child abuse charges in Rhode Island.
Olawusi, who has been on the run since 2017, is considered one of the USMS’s 15 Most Wanted fugitives. He is believed to have fled to Nigeria, where he may be receiving assistance from family members.
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The USMS has warned that Olawusi is considered armed and dangerous and urges the public to avoid approaching him.
Anyone with information about his whereabouts is encouraged to contact the USMS Communications Center at 1-800-336-0102 or submit tips through the USMS Tips platform.