The Economic and Financial Crimes Commission (EFCC) in collaboration with the Toronto Police Service, Canada, has recovered and returned $225,000 to a victim defrauded in a cryptocurrency investment scheme.
The scheme, perpetrated by Nigerian national Omonkhoa Precious Afure, saw the victim lose over $355,000 in 2021.
This milestone, achieved through international cooperation, underscored the growing global efforts to combat cross-border cybercrimes.
The fraud began in June 2021 when the victim connected with a Facebook user identified as “Moshe Theodor McNigh.”
The suspect gained the victim’s trust and encouraged them to invest in cryptocurrency via a platform known as Legacyfxtraders.online. The scheme led to a total loss of $355,000 in Canadian funds to the victim.
By late 2021, the Nigerian law enforcement confirmed the fraudulent activities and launched an investigation.
Over three years, Toronto Police worked closely with multiple agencies to address the case. These included the Coordinated Cyber Centre (C3), 51 Division Fraud Unit, and Financial Crimes Asset Forfeiture Unit.
Canadian partners included the Ontario Provincial Police’s Anti-Rackets Branch and the Canadian Anti-Fraud Centre (CAFC), alongside the Royal Canadian Mounted Police’s (RCMP) International Liaison Officers stationed in Nigeria.
In Nigeria, the EFCC played a pivotal role, leading to the seizure of assets from the suspect.
The Nigerian courts later declared the funds as the victim’s property and ordered their restitution in December 2024.
“As a result of the collaborative efforts between these units, in December of 2024, Toronto Police was able to return $225,000 back to the victim,” the Toronto Police Service stated in a press release.
The EFCC arrested and charged Afure in connection with the scam, marking a significant step in Nigeria’s fight against financial crimes and the country’s commitment to delivering justice to victims worldwide.
The case highlighted the growing global epidemic of online fraud. According to the CAFC, romance scams and cryptocurrency fraud were among the most prevalent forms of financial crime.
LEADERSHIP reports that in 2023, victims reported losses of over $52.5 million to romance scam and investment fraud accounted for over $309 million in losses.
The Toronto Police noted that these figures may be significantly higher, as only 5-10% of victims report fraud to authorities.
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