Police arrest alleged N1bn exotic vehicle fraud syndicate leader in Lagos

Lagos State Police Command has apprehended the alleged person of a transgression syndicate accused of defrauding conveyance dealers of 29 luxury automobiles valued astatine implicit N1 cardinal crossed the state.

The suspect, who had reportedly remained connected the tally for a prolonged period, was arrested aft investigators traced him done accusation provided by different members of the syndicate already successful constabulary custody. According to investigators, confessional statements from the suspects identified him arsenic the alleged mastermind down the operation.

A constabulary root disclosed that the syndicate allegedly targeted automobile dealers by posing arsenic genuine buyers and utilizing deceptive means, including post-dated cheques and unfamiliar intermediaries, to get costly vehicles earlier diverting them for idiosyncratic use.

The root advised conveyance dealers to workout caution by thoroughly verifying the identities and credentials of prospective buyers, particularly successful transactions involving post-dated cheques, to debar falling unfortunate to akin schemes.

According to Vanguard, the apprehension prom...