Authorities have dismantled a sophisticated criminal network responsible for defrauding international oil traders of over $4 million.
Key members of the syndicate, which allegedly operated under the names Marine Gold Oil Refineries Limited, Eagle Capital Management, and Richrice International Corporation, were arrested in a sweeping operation spanning Nigeria, China, and the United States.
Speaking in Abuja on Thursday, the Nigeria Police Force spokesperson, Muyiwa Adejobi, disclosed that the arrests took place between January 4 and January 31, 2025.
One of the prime suspects, David Udensik, also known as Dr. Jacob Bello, was taken into custody for allegedly fabricating documents from the Nigerian National Petroleum Company Limited (NNPCL) and using them to defraud oil traders of $610,000.
Adejobi stated, “The NPF-NCCC has successfully apprehended key members of an organized crime syndicate involved in a $4 million fraud targeting international oil trading firms.
The syndicate, allegedly led by Marine Gold Oil Refineries Limited, Eagle Capital Management, and Richrice International Corporation, operates across Nigeria, China, and the United States, specializing in high-level fraud schemes within the global oil and gas industry.”
He further explained that detectives arrested Udensik, a Nigerian national from Akwa Ibom State, for creating fraudulent intelligence reports and falsifying NNPCL documents to manipulate unsuspecting traders.
Following an extensive investigation, authorities also apprehended Engr. Isaac Jerome Oyakhilome, CEO of Marine Gold Oil Refineries Limited and a director at Richrice International Corporation.
Adejobi revealed, “Oyakhilome was responsible for preparing and signing fraudulent sales agreements for crude oil with NNPCL, facilitating a multimillion-dollar fraud scheme that netted $1,151,495 for his company, which has no known physical address.”
During the crackdown, police recovered significant evidence, including ₦55 million (approximately $33,428.57), assets worth ₦370 million, electronic devices, and a Toyota Camry. Investigators reported that the suspects confessed to their involvement in the operation.
In a separate operation, police arrested Solomon Chidiebere Akunyalam, a 24-year-old involved in a high-tech cryptocurrency scam.
Adejobi detailed how Akunyalam used a foreign phone number in April 2024 to contact a victim via Binance before persuading him to switch their conversation to WhatsApp.
Posing as a trading mentor, he convinced the victim to activate third-party authentication on his device.
“The suspect then instructed the complainant to enable third-party authentication on his mobile device, having sent a phishing link disguised as further activation for subscription of a particular application.
The unsuspecting victim clicked and activated the phishing link on his device and his wallet was immediately drained of $86,000,” Adejobi explained.
On January 31, 2025, police raided a cybercrime base in Ipent 2 Estate, Lokogoma, Abuja, leading to the arrest of two individuals: Irhene Efe Wealth (25) and Irhene Godstime (21).
The duo specialized in hacking and selling the Facebook accounts of foreign nationals to other cybercriminals.
Meanwhile, in Lagos, authorities arrested Instagram user Idowu Emmanuel, known online as @lilsmart, for making false accusations against musician Naira Marley (Abdulazeez Adeshina Fashola).
Adejobi explained, “Investigations revealed that the suspect, using his Instagram handle @lilsmart, falsely alleged that he was abducted, assaulted, and robbed of $300, further claiming that Naira Marley had bribed all police officers in Lagos and was involved in credit card fraud.”
Following an investigation, Emmanuel admitted in writing that his allegations were fabricated and baseless.
He was taken into custody on January 28, 2025, at his residence in Megamound Estate, Ajah, Lagos, with evidence of the crime recovered.
The police have assured that all suspects will face legal proceedings as authorities continue efforts to dismantle fraudulent networks across the country.
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