The police in Lagos state have busted a fraud syndicate that alleged duped auto dealers of vehicles worth over N1billion.
The state Commissioner of Police, CP Tijani Fatai, stated this Wednesday at the state command headquarters in Ikeja, while speaking with newsmen on the recent successes of the police in the state .
The police boss told newsmen that a member of the syndicate ,Fatai Balogun was arrested ,while the police hunt for the ring leader of the syndicate ,identified as Otunba Ismaila Olamilekan ,popularly known as Otunba Jaji .
CP Tijani warned auto dealers to always ensure due diligence before releasing vehicles to prospective buyers.
The police boss said many cases against the syndicate were reported independently by different complainants at different times.
The Lagos police boss said: “However, thorough and painstaking investigations by detectives of the State Criminal Investigation Department (SCID), Panti, revealed striking similarities in the methods employed by the suspects, leading to the harmonisation of the investigations.
“The investigations established the existence of a coordinated criminal syndicate specializing in fraudulently obtaining exotic vehicles from unsuspecting dealers through deception, the issuance of dud and post-dated cheques, and the subsequent conversion of the vehicles for personal gain.”
CP Tijani explained that: “The first investigation involved one Muritala, who was reported to have obtained vehicles under the false representation that payment would be made after disposal of the vehicles.
“During interrogation, the suspect confessed to the crime and mentioned one Fatai Balogun, a.k.a Eleku as his accomplice.”