EFCC claims that the Audu organized a fraudulent syndicate of 792 participants who made romantic acquaintances with potential victims, and then convinced them to invest in cryptocurrencies. These schemes were aimed not only at the inhabitants of Nigeria, but also at foreign investors. The man is accused of drawing up fake documentation, as well as storage of 1,262,000 USDT stabelcoins on the Binance crypto -tank and 1 300 203 USDT on the BYBIT exchange. The department said that these crypto acts were obtained as a result of fraudulent activities.
Audu was detained on December 10, 2024 in Lagos during the EFCC secret operation, named Eagle Flush Operation. However, the founder of Genting Nigeria Limited denies the charges against him. Judge Rahman Oshodi postponed the consideration of the case on June 2 and 3, 2025. Now the accused is in a correctional institution.
The prosecutor Bilikisu Buhari demanded that the court leave the accused before the sentence and reject the defense of the defense of the release of the prisoner on bail. The prosecutor’s office insists that fraudulent actions committed to the audience not only violate Nigerian legislation, but also have serious consequences for the international reputation of Nigeria. A spoiled image of the country may interfere with the efforts of the government in attracting foreign investment, Bukhari said.
Last year, the Nigeria court fined the Official Gredo crypto company at $ 90,000 for conducting transactions with Nigerian Nigeri and USDT Stabelcoins without a banking license. In April, the authorities of Nigeria recognized cryptocurrencies securities.
Source: Bits
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