The Nigeria Police Force have arrested one Paschal Ugwu, who allegedly disguised to be an official of the Economic and Financial Crimes Commission (EFCC) for defrauding Wire-My-Cake Company of N805,000.

Disclosing news of the arrest on Monday, the Lagos State Commissioner of Police, Imohimi Edgal, said Ugwu connived with Sodiq Ibrahim, a former employee of the company to defraud the company’s managing director.

Edgal said: “The suspect met his waterloo on October 5 at Ijegun, having defrauded Wire-My-Cake Company. Two months before his arrest, while pretending to be an EFCC official, he accused the company’s CEO of defrauding GTB.

“He further accused him that it was the proceeds of the fraud that he used in setting up his company.

“The suspect did not only intimidate the company’s CEO, but also followed it with accusations and at the end of the day obtained N805,000 from him.

“The command operatives attached to Area ‘F’ Ikeja began operation. This led to the arrest of Sodiq Ibrahim, a dismissed employee of Wire-My-Cake Company, who connived with the suspect to defraud his former employer.”

Ugwu and Ibrahim allegedly took advantage of the pending case the company had with EFCC. The suspects would be charged to court for prosecution. 

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