The Economic and Financial Crimes Commission, EFCC has arrested a suspected fraudster, Samson Otuedon, who was in possession of fake dollar bills of over $400,000.

The suspect was arrested at Masaka, Karu Local Government Area of Nasarawa State, according to a statement released by EFCC Spokesman, Mr. Wilson Uwujaren.

EFCC said Otuedon's arrest was based on intelligence report acted upon by the anti-graft agency.

The report, according to EFCC revealed how a syndicate who specialise in counterfeiting foreign currencies has duped residents of Masaka, leading to investigation and eventual arrest of Otuedon on Saturday.

The statement read, “While being interrogated, Otuedon admitted that the fake dollars were given to him by other members of his syndicate based in Lagos. Otuedon, who confessed to the crime, also admitted that the syndicate uses fake dollars for ‘money doubling’.”

According to the EFCC, the suspect would be charged to court soon. EFCC Logo

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