The Toronto Police Service, in collaboration with Nigerian authorities, has recovered and returned $225,000 to a victim defrauded in a cryptocurrency investment scheme by Omonkhoa Precious Afure, a Nigerian national.
The victim was defrauded of over $355,000 in cryptocurrency in 2021.
This development, disclosed in a press release by the Toronto Police Service, highlights the importance of international cooperation in combating cross-border cybercrimes.
“As a result of the collaborative efforts between these units, in December of 2024, Toronto Police was able to return $225,000 back to the victim,” the statement reads.
How the fraud unfolded
The fraud, which began in June 2021, involved the victim communicating with a Facebook user identified as “Moshe Theodor McNigh.”
The suspect gained the victim’s trust and encouraged investment in cryptocurrency via a platform called Legacyfxtraders. online.
This led to the victim losing an estimated $355,000 in Canadian funds. By the fall of 2021, Nigerian law enforcement confirmed the fraudulent activities and launched an investigation.
Over the last three years, Toronto Police worked with multiple agencies to address the fraud case.
“Over the course of three years, members of Toronto Police from the Coordinated Cyber Centre (C3), 51 Division Fraud Unit, and Financial Crimes Asset Forfeiture Unit worked closely with the Ontario Provincial Police’s Anti-Rackets Branch, Canadian Anti-Fraud Centre (CAFC), Royal Canadian Mounted Police’s (RCMP) International Liaison Officers located in Nigeria, and with Nigeria’s Economic and Financial Crimes Commission – EFCC,” they stated
This cooperation resulted in the seizure of assets by Nigerian authorities. In December 2024, the Nigerian courts declared the funds to be the victim’s property and ordered their restitution.
The EFCC arrested and charged Nigerian national Omonkhoa Precious Afure in connection with the scam. This case demonstrates Nigeria’s increasing capacity to address financial crimes and ensure justice for victims globally.
The growing fraud epidemic
According to the Canadian Anti-Fraud Centre (CAFC), romance fraud and cryptocurrency scams are escalating.
- In 2023 alone, Victims reported losses of over $52.5 million to romance scams.
- Investment fraud accounted for over $309 million in losses.
The Toronto Police Service noted that the actual figures may be significantly higher as only 5-10% of victims report fraud to authorities.
What you should know
- Nairametrics reported that the United States Marshals Service (USMS) announced a $25,000 reward for information leading to the capture of Olalekan Abimbola Olawusi, a Nigerian national wanted for first-degree murder and severe child abuse charges in Rhode Island.
- Olawusi, who has been on the run since 2017, is considered one of the USMS’s 15 Most Wanted fugitives. He is believed to have fled to Nigeria, where he may be receiving assistance from family members.
- The USMS has warned that Olawusi is considered armed and dangerous and urges the public to avoid approaching him.
- Anyone with information about his whereabouts is encouraged to contact the USMS Communications Center at 1-800-336-0102 or submit tips through the USMS Tips platform.
