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James Ojo, Abuja
A syndicate, which specialised in counterfeiting American dollars, has been cracked by the Economic and Financial Crimes Commission, (EFCC), in Masaka, a Nasarawa State sprawling settlement on the fringes of the Federal Capital Territory (FCT), Abuja.
In the process, a suspected fraudster, one Samson Otuedon, living in Masaka, Karu Local Government Area of Nasarawa State, was arrested for currency counterfeiting, according to EFFC spokesman, Wilson Uwujaren.
Otuedon, is said to specialise in counterfeiting foreign currencies, and was apprehended following an intelligence report on the activities of a syndicate of fraudsters duping unsuspecting victims in the Masaka area of the state.
Daily Sun gathered that the commission, upon the receipt of the report, swung into action by putting the area under surveillance, an action that led to the eventual arrest of the suspect on Saturday and over $400,000 was recovered from Otuedon.
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 use fake dollars for money doubling. The suspect, it was learnt, would be charged to court as soon as investigations are concluded.
