The Nigerian Police Force (NPF) says it arrested Wilfred Bonse, former Cross River governorship candidate, in connection to the security breach and financial fraud suffered by Patricia, a cryptocurrency firm.
He contested the Cross River governorship election in 2023 on the platform of the New Nigeria People’s Party (NNPP).
Bonse, according to Muyiwa Adejobi, NPF public relations officer (PRO), conspired to launder the sum of N50 million that originated from the fraudulent diversion of N607 million from Patricia.
In a statement on Friday, Adejobi said Bonse received the funds with his bank account through a cryptocurrency wallet.
The fund is part of the N2 billion Patricia lost to a security breach on its crypto processing platform in May 2023.
Adejobi said after painstaking efforts, the police trail led to the arrest of Bonse.
He said the police, through its national cybercrime center (NPF-NCCC) made significant strides in the investigation of the complex financial fraud case reported by Patricia.
“The case involves a criminal conspiracy, unauthorized modification of computer systems, network data, and the unlawful diversion of funds amounting to over two hundred million naira (N200,000,000:00k) as contained in a petition to the inspector general of Police,” the PRO said.
“Outlining the details of the alleged theft, conversion of cryptocurrency wallets, and unauthorized fund diversion from the company’s Flutterwave account, the petition specifically mentioned some individuals currently at large.
“Having registered his involvement in the complex crime. Wilfred Bonse conspired in laundering the sum of fifty million naira (N50,000,000:00k) originating from the fraudulent diversion of six hundred and seven million naira (N607,000,000:00k) from Patricia Technology company’s account to his bank account through a cryptocurrency wallet.
“While the investigation is ongoing, the Nigeria Police Force wishes to assure the public that all individuals involved in this criminal conspiracy will be brought to justice.”
This is not the first case of Bonse’s involvement in cyber fraud.
In February, the politician was accused of benefitting at least N40 million from a cyber fraud scheme executed by a group of hackers identified as ‘The Syndicate’.
“BONSE WAS USED TO STEAL FROM PATRICIA”
Commenting on Bonse’s arrest, Hanu Agbodje, founder of Patricia, said the politician was used “to steal N607,000,000 from Patricia”.
“This is not all the monies lost, but recovery from this would go a long way to soothe Patricia users,” Agbodje said.
“The case is still being investigated, the hackers used politicians to launder the stolen money. All of whom would be brought to the book. One by One.
“My commitment remains to Patricia users, Repayment started on the 20th of November, and it would continue. Until every user is reached.”
Agbodje said he takes the new development as a win even though the company still has some grounds to cover.