LEGIT NG
A 43-year-old man, Sunday Ozimede, who allegedly hacked into the vault of one of Nigeria’s foremost fintech companies and stole N1,190,728,076 billion, was arraigned by the police before the Federal High Court in Lagos State on January 20.
The defendant faced three counts of conspiracy, hacking, and obtaining by false pretence, charges preferred against him by the Police Special Fraud Unit (PSFU).
The PSFU’s Prosecution Counsel, Justine Enang, informed the court that the defendant allegedly hacked into the microfinance bank and fraudulently obtained N945,728,076 million by false pretence.
Enang further stated that Ozimede caused a financial loss to the fintech bank amounting to N145 million by planting a bug in the bank’s data system.
The prosecutor explained that Ozimede, along with others now at large, conspired to commit the offences sometime in May 2024.
In court, Enang revealed that Ozimede diverted the aforementioned money from various customers’ deposited funds through numerous transactions to other banks.
The charges brought against him were in violation of Sections 27(i)(b) and 14 of the Cyber Crimes (Prohibition, Prevention, etc.) Act, 2015, as amended in 2024, and Section 14(1) of the same Act, and 18(2)(b) & (d), punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022…
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