The Economic and Financial Crimes Commission, (EFCC) on Wednesday, busted a Lagos hotel believed to be a hideout for internet fraudsters also known as “Yahoo Boys”.
The target was one Rasaq Balogun, a suspected internet fraud kingpin, whose illicit activities dominated intelligence gathered from the recently arrested ‘police spies’ during a raid on their Abeokuta base.
According to findings, Balogun harbours an army of young men recruited to carry out financial frauds through the use of the internet.
Some others were also arrested at his Beckley Estate residence, also in Lagos State.
The raid on his hotel, Modzak Hotel, at Abule-Egba, Lagos State, sufficiently gave credence to the suspicion as a retinue of young men were caught harboured in his hotel with no specific mission.
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The suspected kingpin and 26 other young men ranging between the ages of 18 and 35 years were arrested at the scene.
Other suspects were also arrested at his Beckley Estate residence, Lagos from where they were all moved to the Commission’s Ibadan zonal office for further interrogation.
Officer of the anti-graft agency also recovered three vehicles, fetish item, laptops, mobile phones and documents suspected to contain fraudulent data from the suspect.
The commission however said those indicted in the crime will be charged to court as soon as investigations are concluded.
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