National
EFCC arrests man for $200,000 bitcoin fraud, links suspect to Cubana Group

BY ADEKUNLE DADA
November, 12, 2021

The Economic and Financial Crimes Commission (EFCC) has arrested one Precious Ofure Omonkhoa for an alleged bitcoin investment scam in the Ikoyi area of Lagos state.

EFCC Head of Media, Wilson Uwujaren, who disclosed this in a statement on Friday said Precious was nabbed following credible intelligence about his illegal activities.

Precious allegedly posed as Moshem Cnich, a Swedish national, to defraud unsuspecting victims.

The suspect claimed that he ran a bitcoin scheme where people invest money to make huge returns.

Uwujaren noted that preliminary investigation revealed that Precious engaged in a dating scam and had defrauded two victims in Canada.

“The suspect confessed to have laundered the proceeds of his fraudulent activities by purchasing a piece of land worth $150,000 through bitcoin from CASA-Cubana, a project being run by the Cubana Group”, he said.

Cubana Group is owned by popular socialite, Obinna Iyiegbu better known as Obi Cubana.

WITHIN NIGERIA had reported that the billionaire club owner was arrested by EFCC on Monday, November 1 for alleged tax fraud and money laundering.

It is unclear if the EFCC questioned the businessman about Precious’ transaction with CASA-Cubana during his 4-day interrogation in Abuja.

Uwujaren added that upon his arrest, $50,000 was found in the suspect’s bitcoin wallet and that he will soon be charged to court.

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Zhaotong City, China

KING JAJA OF OPOBO

King Jaja of Opobo was born Mbanaso Okwaraozurumba in Umuduruoha, Amaigbo (present day Imo State) in the year 1821. He was sold into slavery and taken to Bonny Island (present day Rivers state) under circumstances which are far from clear.

He was renamed Jubo Jubogha by his first master, Chief Iganipughuma Allison of Bonny, and later resold to Chief Alali who was the head of the Opubo Manilla Pepple Royal House. It was here that the British who couldn’t pronounce his name called him “Jaja”.

Jaja worked for Chief Alali and ran businesses on the side until he was able to buy his freedom. He was soon recognized as one of the smartest businessmen in the city and became one of the greatest leaders of the head of Anna Pepple house.

Later on, a power struggle ensued in the houses at Bonny led by Pepple House’s High Chief Oko Jumbo which led to the breakaway of a fraction led by Jaja. He established a new settlement which he named Opobo in 1869 where he became King Jaja of Opobo.

By Esan People Blog

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NEGATIVE INFLUENCE TO ONCE LIFE

Two Nigerian banks were rebuked for their role in a $4 million theft from pensioners.

Maina diverted N300 million ($730,00, N500 million ($1.2 million) and N1.5 billion ($3.6 million) into accounts he opened with United Bank for Africa (UBA), and Fidelity bank with family members as signatories, the court said. For failing to flag the identities, Abang said both banks “should have been arraigned with the convict for illegal transactions” and have their banking licenses withdrawn.

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BREAKING, Local News
JUST IN: Ex-Pension Boss, Maina sentenced to 61 years imprisonment for money laundering

A justice of a federal high court sitting in Abuja, Okon Abang has sentenced a former chairman of Pension Reforms Task Team, Abdulrasheed Maina to 61 years imprisonment but to run concurrently at eight years in jail for N2 billion pension fraud.

Maina was found guilty of money laundering by Justice Okon Abang.The federal high court had found the ex-pension boss guilty of inducing staff of Fidelity Bank to open bank accounts for him without conducting due diligence and money laundering.