EFCC Arrests Abuja Businessman Over Alleged $120 Million Fraud

The Economic and Financial Crimes Commission has arrested Abuja-based businessman Innocent Ezuma over allegations that he defrauded a Ukrainian investor of more than $120 million. The EFCC confirmed that Ezuma was arrested at his Abuja residence on October 19 and remains in custody. Investigators are examining allegations of advance-fee fraud, criminal breach of trust, conversion, theft and money laundering. Sources said the funds were allegedly collected between 2007 and 2015 for mineral exploration and power projects that were not delivered. The agency is also reportedly tracing transfers worth billions of naira to companies and individuals linked to him. The allegations include previous business dealings involving the Jos Steel Rolling Mill and claims connected to a 2008 confrontation in Ukraine. The EFCC has not released further details as its investigation continues.

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