Operatives of the Assistant Inspector-General (AIG) Zone Two, Onikan have arrested a 40-year-old man, Anthony Bamido, for alleged N124 million fraud.
Bamido was arrested following a complaint by one Sunday Ikupoluyi, who claimed he loaned the suspect N50 million for a purported project, Nation Newspaper reports.
According to the police, Ikupoluyi reported that Bamido approached him and solicited for N90 million loan to execute a project with a promise to pay back in one month.
He was said to have been offered N50 million instead, which he guaranteed with three vehicles – a Mercedes-Benz E300 and Two Lexus LX570 SUV with original documents.
But unknown to the creditor, Bamido, the police said, was an alleged serial fraudster who specialised in getting vehicles from car agents, which he used to obtain loans.