The Economic and Financial Crimes Commission (EFCC), Nigeria, in collaboration with the Toronto Police Service, has successfully recovered and returned $225,000 to a victim defrauded in a cryptocurrency investment scam.
The fraud, orchestrated by Nigerian national Omonkhoa Precious Afure, resulted in the victim losing over $355,000 in 2021.
The scheme, which began in June 2021, involved the victim engaging with a Facebook user identified as “Moshe Theodor McNigh.” The suspect gained the victim’s trust and convinced them to invest in cryptocurrency through a platform called Legacyfxtraders.online. As a result, the victim lost a total of $355,000 in Canadian dollars.
Following the discovery of the fraudulent activities by Nigerian authorities, an investigation was launched. Over three years, the case garnered attention from multiple international agencies, including the Coordinated Cyber Centre (C3), 51 Division Fraud Unit, and the Financial Crimes Asset Forfeiture Unit in Toronto. Canadian partners, such as the Ontario Provincial Police’s Anti-Rackets Branch, the Canadian Anti-Fraud Centre (CAFC), and the Royal Canadian Mounted Police (RCMP), worked in close coordination with their Nigerian counterparts.
The EFCC’s investigation led to the seizure of assets from Afure, who was arrested and charged in connection with the scam. In December 2024, Nigerian courts ruled that the recovered funds belonged to the victim and ordered their restitution.
Thanks to the collaborative efforts of law enforcement agencies across borders, the victim was able to receive $225,000 of the stolen funds. The Toronto Police Service highlighted the success of this international cooperation in a press release, emphasizing the growing global response to cybercrimes and online fraud.
This case serves as a reminder of the increasing prevalence of online financial crimes. According to the CAFC, romance scams and cryptocurrency fraud are among the leading types of financial crime, with victims in 2023 reporting losses of over $52.5 million to romance scams alone. Investment fraud accounted for more than $309 million in reported losses, though experts note that only a small fraction of victims report these crimes.
