The Lagos State Police Command has arrested the alleged kingpin of a vehicle fraud syndicate accused of fraudulently acquiring 29 luxury vehicles worth more than ₦1 billion from unsuspecting dealers across the state.
The suspect, who had been on the run, was apprehended after investigations and confessional statements from previously arrested members of the syndicate identified him as the alleged mastermind behind the operation.
Following the arrest, the Commissioner of Police, Fatai Tijani, directed the State Criminal Investigation Department (SCID), Yaba, to intensify investigations and track down other members of the criminal network still at large.
A police source disclosed on Saturday that the syndicate specialised in obtaining expensive vehicles from reputable dealers through false representations before converting them for personal gain.
According to the source, the suspects often claimed the vehicles were needed for legitimate business transactions or political engagements to gain the confidence of dealers.
They allegedly secured the vehicles using dud or post-dated cheques, transferred them to third parties and concealed the identities of the actual beneficiaries through intermediaries.
The investigation began after detectives harmonised three separate cases involving criminal conspiracy, obtaining goods by false pretence, fraudulent conversion, stealing and the issuance of dud cheques.
Although the complaints were initially reported as separate incidents, investigators discovered they were linked to the same organised criminal syndicate.
The police said intelligence-led operations and the use of the AUTOREG vehicle tracking platform have so far led to the recovery of 16 vehicles, with 12 already returned to their rightful owners.
However, vehicles valued at about ₦534 million remain unaccounted for, while efforts continue to recover them and arrest other fleeing suspects.
“We remain committed to apprehending all those involved, recovering the outstanding vehicles and ensuring they are prosecuted,” the police source said.
The case is being handled by the Financial Crimes Section of the SCID, Yaba, under the supervision of the Deputy Commissioner of Police in charge of the department, Dayo Akinbisehin.
Police described the case as a well-coordinated criminal operation rather than isolated incidents and advised vehicle dealers to thoroughly verify the identities and credentials of prospective buyers, especially when transactions involve post-dated cheques or unfamiliar intermediaries.
