Abuja –  The Economic and Financial Crimes Commission (EFCC) says it has arrested a suspected fraudster, Mr Olu Adebanjo, who allegedly heads a syndicate.

According a statement, signed by Mr Wilson Uwujaren, the commission`s Head of Media and Publicity, the syndicate extorts money from people under the guise of clearing them of non-existent petition purportedly brought against them at the EFCC.

“The 45-year-old businessman was arrested on June 17, 2016, in a failed attempt to swindle Prof. Julius Okojie, Executive Secretary of National Universities Commission of N3 million to clear him of a purported corruption allegation, the statement issued in Abuja on Monday said.

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“The complainant, who also alerted the commission of the activities of fraudsters impersonating him to defraud vice chancellors of various universities, was advised to play along,’’ the statement said.

It added that the suspect was consequently arrested while trying to cash the money from one of the new generation banks.

It said that the suspect would be charged to court as soon as investigation was concluded.