Romance Scam: How EFCC, Toronto Police Recover $225,000 For Victim of Cryptocurrency Fraud
LAGOS DECEMBER 12TH (NEWSRANGERS)-A Toronto resident who lost $355,000 in a romance cryptocurrency fraud was able to recover some of those funds after the man allegedly behind the scam was arrested in Nigeria.
The Toronto Police Service (TPS) was first notified of a crypto scam in the fall of 2021 and began working with various investigative departments, including the Royal Canadian Mounted Police’s (RCMP) International Liaison Officers in Nigeria.
In this incident, it’s alleged that the victim began communicating online with an individual named “Moshe Theodor McNigh” on Facebook in June 2021. TPS said the suspect befriended the victim, who was encouraged to invest in cryptocurrency, such as Bitcoin, through “Legacyfxtraders.online” (Legacy).
Police said that in the fall of 2021, Nigerian law enforcement officials contacted the victim, confirming that they had been defrauded in a cryptocurrency investment scheme and had lost approximately $355,000 CAD.
TPS said Nigeria’s Economic and Financial Crimes Commission (EFCC) eventually arrested and charged Omonkhoa Precious Afure of Nigeria, and officials seized the proceeds of the crime.
Nigerian courts determined the assets belonged to the Canadian victim, and in December, TPS officials returned $225,000 CAD to that person.
In a news release, TPS cited statistics from the Canadian Anti-Fraud Centre (CAFC) indicating that in 2023, victims reported losing over $52.5 million to romance frauds and over $309 million to investment frauds.
“It is estimated that only 5-10 per cent of victims report their frauds to the CAFC or law enforcement,” TPS wrote.
City News
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Posted by News Rangers
on Dec 12 2024. Filed under International, National.
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