Precious Ofure arrested by EFCC over $200,000 bitcoin fraud, linked to Cubana Group

Precious Ofure has been picked up by the Economic and Financial Crimes Commission (EFCC) over an alleged bitcoin investment scam.

EFCC’s Head of Media, Wilson Uwujaren, confirmed this in a statement on Friday.

Uwujaren said Precious was apprehended in the Ikoyi area of Lagos, following credible intelligence about his illegal activities.

The suspect allegedly posed as Moshem Cnich, a Swedish national, to defraud unsuspecting victims, but claimed that he ran a bitcoin scheme where people invest money to make huge returns.

Uwujaren however noted that preliminary investigations revealed that Precious engaged in a dating scam and had defrauded two victims in Canada.

“The suspect confessed to have laundered the proceeds of his fraudulent activities by purchasing a piece of land worth $150,000USD through bitcoin from CASA-Cubana, a project being run by the Cubana Group”, he said.

Cubana Group is owned by popular socialite, Obinna Iyiegbu better known as Obi Cubana.

It is unclear if the EFCC questioned the businessman about Precious’ transaction with CASA-Cubana during his 4-day interrogation in Abuja.

Uwujaren added that upon his arrest, $50,000 was found in the suspect’s bitcoin wallet. He will soon be charged to court.