Police arrest six over alleged fraud syndicate targeting Lagos traders

Summary

Lagos police say they arrested six suspected members of two fraud syndicates that allegedly targeted traders and business owners in major markets across the state.

Highlights

• Police said the suspects used fake commodity supply deals to lure victims before allegedly taking their money.
• Investigators recovered a list said to contain details of more than 125 traders and business operators in markets including Oshodi, Arena, Idumota, Alaba and Trade Fair.
• One syndicate was also accused of luring a tyre merchant to Ogun State, where he was allegedly held until about N24m was paid as ransom.
• The arrests reportedly began after operatives moved in on suspects who lured a cloth seller to Ayobo, Lagos.
• A police source said the two groups used different tactics but shared the same goal of defrauding traders and other victims.