DEC nabs Nigerian for fraud

THE Drug Enforcement Commission (DEC) through its Anti-Money Laundering Investigations Unit has arrested a Nigerian national for fraud and possession of property suspected of being proceeds of crime.
The Commission has formally charged and arrested Adeyinka Adesola Olaoluwa a businessman aged 39 for Giving False Information to a Public Officer contrary to section 125(a) of the Penal Code Chapter 87 of the Laws of Zambia and Possession of Property Suspected of Being Proceeds of Crime contrary to section 71 of the Forfeiture of Proceeds of Crime Act No. 19 of 2010 of the Laws of Zambia.
DEC public relations officer Hussein Khan said particulars of the matter are that Olaoluwa jointly and whilst acting together with other persons unknown on dates unknown but between 1st January 2020 and 30th June 2022 at Lusaka with intent to defraud gave false information to a public officer at the Patents and Companies Registration Agency when registering a company named WH Energy and Allied Services Limited whose nature of business was said to be management consultancy and support services.
He said however, the company was registered in Zambia for the sole purpose of opening three bank accounts at a known commercial bank which were used to fraudulently receive and transfer money worldwide.
Mr Khan said the accounts have since been frozen with balances of USD 2, 084, 972, Euro 100 and GBP 11, 061.
The suspect is on bond and will appear in court soon.

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