Police Uncover N1.02bn Vehicle Fraud Syndicate, Recover Exotic Cars In Lagos.

The Lagos State Police Command has uncovered an organised vehicle fraud syndicate allegedly responsible for obtaining exotic vehicles worth over N1 billion from dealers through deception, dud and post-dated cheques, leading to the recovery of several vehicles and the launch of a search for fleeing suspects.

Briefing journalists on Tuesday in Lagos, the Commissioner of Police, CP Fatai Tijani, said detectives of the State Criminal Investigation Department (SCID), Panti, harmonised investigations into three independently reported cases after discovering that they shared similar patterns and involved the same criminal network.

According to the police, the syndicate targeted reputable vehicle dealers, fraudulently acquired vehicles using dishonoured cheques and false payment promises. Then it transferred the vehicles to third parties for personal gain.

The Commissioner “The investigations established the existence of a coordinated criminal syndicate specialising 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.”

He explained that the first case involved a suspect identified as Muritala, who allegedly obtained vehicles after falsely claiming payment would be made once the vehicles were sold.

During interrogation, Muritala reportedly confessed to the offence and implicated Fatai Balogun, popularly known as “Eleku,” as an accomplice. Further investigations revealed that Balogun was already under investigation for similar offences and had allegedly admitted participating in the fraudulent transactions before linking the vehicles to one Otunba Olamilekan Ismail, who remains at large.

Police investigations linked Balogun to 12 exotic vehicles fraudulently obtained from different dealers, and detectives recovered a 2010 Toyota RAV4, a 2007 Toyota Highlander, and a 2017 Toyota Highlander through intelligence-led operations and the AUTOREG vehicle tracking platform.

In the second case, three complainants accused Balogun, Ismail Olamilekan, and others of conspiracy, fraudulent conversion, issuance of dud cheques, and theft.

According to the police, the suspects fraudulently obtained seven vehicles valued at about N700 million after claiming they were supplying them to prominent politicians in Abuja. The payment was allegedly made with post-dated cheques, all of which were dishonoured by the banks.

The police said Balogun confessed to disposing of the vehicles to different buyers, while detectives recovered a 2020 Toyota Hiace bus and a 2018 Ford Edge SUV.