A car lot, Astrax Auto Shop allegedly owned by suspected ‘Yahoo boys’ was raided yesterday, November 27th by men of the Economic and Financial Crimes Commission, EFCC, in Lagos. A total of 29 exotic cars were ceased during the raid.
According to a statement released by the agency, the raid followed intelligence report received by the Commission on the activities of the operators of the auto shop, who are said to be a syndicate of organized Internet fraudsters.
Investigation revealed that the syndicate, which specializes in Business Emails Compromise, BEC, in the United States of America, USA, usually moves proceeds of its alleged illicit business to a nominated bank account owned by their mules in the U.S.
The syndicate members allegedly launder the proceeds through money order, which they use to purchase cars in American auctions and ship same to Nigeria for sale.
The EFCC had earlier arrested one of the syndicate members, Olusegun Micheal Adeyemi.
In his statement to the EFCC, Adeyemi confirmed one Tayo Onilogbo Yusuf as the Managing Director of Astrax Autos and Automobile.
The cars recovered from the syndicate include:- four Toyota Corolla; seven Toyota Camry; two Toyota Highlander; two Toyota Venza; two Range Rover; one Ford SUV; three Mercedes Benz; one Toyota 4runner; one Toyota Sienna; four Honda Accord; one Toyota Sequoia and one Kia car.