Police arrests 55-year-old man for alleged N55m fraud

Police operatives in Ondo State have arrested a 52 year-old man, Eniaye Olorunfemi, for alleged N55 million fraud.

The spokesman for the state police command, Abayomi Jimoh, disclosed this in a statement on Saturday in Akure.

He said the suspect converted the money belonging to Igbeyinadun Multipurpose Cooperative Society in Akure.

Jimoh said: “The suspect was arrested on January 30 by operatives of the Anti-Kidnapping Section of the Police Command in Ondo State, following an approved petition received by the command.

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” Preliminary investigation revealed that the suspect collected the money in June 2025 under the pretext of purchasing a tipper truck on behalf of the cooperative society.

“However, after the truck was handed over to him, the suspect allegedly absconded and refused to report back to the society, thereby prompting the petition to the police.

“Acting on credible intelligence, police operatives tracked down and arrested the suspect. The tipper truck was successfully recovered and has since been handed over to the cooperative society.

“The suspect is currently in police custody and has made useful statements, while investigation continues. He will be charged to court upon the conclusion of investigation.”

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