Court Freezes N178 Million in 8 Accounts Over USDT Fraud

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Fraud Allegations
  2. EFCC's Role in the Investigation
  3. Court's Decision


    4. The Federal High Court in Abuja has frozen around N178,750,000 held in eight Nigerian banks due to an alleged fraudulent USDT purchase transaction by suspect Anthony Emeka Ibisi.

    Fraud Allegations

    According to reports, Ibisi collected the said sum from Anikwe Ifeanyi under the guise of helping purchase USDT. However, the transaction wasn’t consummated as promised, and the High Court in Abuja has ordered the freeze of 8 accounts connected to the transaction. In September 2023, the suspect posed as an employee of Guaranty Trust Bank PLC and claimed he could process foreign currency through the bank's official window for the petitioner’s partners outside Nigeria.

    EFCC's Role in the Investigation

    On January 17, 2024, the Economic and Financial Crimes Commission (EFCC) received a petition from Patloma Partners on behalf of Mr. Anikwe Ifeanyi against Anthony Emeka Ibisi, alleging fraud involving N178,750,000.00. After receiving the funds, Ibisi failed to transfer the USDT equivalent to the petitioner’s partners outside Nigeria. During a preliminary investigation, EFCC discovered that Ibisi transferred various amounts into certain bank accounts allegedly linked to him.

    Court's Decision

    The court temporarily froze eight bank accounts related to the transaction. The order was made following a request by the EFCC Chairman against Teehbiz Logistics, Ibisi Anthony Emeka, and others. The court has adjourned the case to November 26, 2024, for the EFCC to submit its final investigation report.

    "It is in the interest of justice to grant the freezing order to preserve the said money and deny the suspect the opportunity to enjoy proceeds suspected to be from unlawful activity."None

    The Abuja High Court has temporarily frozen eight bank accounts linked to a fraudulent USDT purchase transaction. The next court session is scheduled for November 26, 2024, to present the EFCC's investigation report.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Missouri Faces Federal Court Challenges Over Sports Prediction Contracts

Missouri is facing federal court challenges over its crackdown on sports prediction contracts, with lawsuits filed by companies linked to Cryptocom and Novig arguing for federal oversight instead of state classification as unlicensed gambling.

user avatarJesper Sørensen

Elon Musk Proposes Public Shares Plan Amid AI Discussions

Elon Musk proposed giving shares from Anthropic's Public Benefit Fund directly to the public to support nonprofits and address AI's impact on workers.

user avatarLucas Weissmann

SpaceX Falcon 9 Launch Scheduled for October 19

SpaceX is preparing for a Falcon 9 rocket launch from Cape Canaveral on October 19, 2026, at 6:30 AM ET, which may create a jellyfish effect. Weather conditions currently pose a threat with only a 55% chance of favorable conditions.

user avatarRajesh Kumar

Cardano's Stablecoin Market Surpasses 702 Million

As of October 18, Cardano's stablecoin market has reached a notable milestone, with the total supply of dollar-pegged tokens hitting approximately 702 million.

user avatarFilippo Romano

Aptos Reports Token Burn and Staking Emissions

Aptos has burned approximately 174,570 APT in the last 30 days while issuing around 15 million APT through staking.

user avatarEmily Carter

Cross River Bank Integrates Ripple's RLUSD Stablecoin for Enhanced Payment Solutions

Cross River Bank integrates Ripple's RLUSD stablecoin to enhance payment solutions for fintech customers.

user avatarTomas Novak

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.