Patricia Technologies has been exonerated by the Nigerian Police Force’s National Cybercrime Center (NPF-NCCC) of all allegations related to the misappropriation of depositor monies totaling N607 million.
By apprehending Wilfred Bonse and three other suspects, who they claimed had charges to answer in connection with the case, the Force also claimed to have made progress in the purported cybercrime.
The company filed a complaint with the Inspector General of Police on the purported theft in 2022, following a claimed breach of its cryptocurrency trading platform, Patricia.
Depositor funds were lost as a result of the breach, and Patricia Technologies suspended the platform to prevent more fund compromise.
At a briefing in Abuja over the weekend, Nigeria Police PRO Olumuyiwa Adejobi, an Assistant Commissioner of Police (ACP), stated that an investigation had uncovered a complex criminal conspiracy involving the unauthorized modification of computer systems, network data, and the unlawful diversion of funds totaling more than N607 million that belonged to the petitioner.
The police image maker said:
“Wilfred Bonse, the key player in the complex cybercrime, arrested with three of his co-conspirators, is a prominent politician and former gubernatorial aspirant in Cross River State in the 2023 general elections.
“He was found to have masterminded the alleged theft by conspiring with others, through the conversion of crypto-currency wallets and diversion of the said sum from Patricia Technologies’ Flutterwave account to his bank account.
In his reaction, Hanu Fejiro, CEO of Patricia Technologies, said the conclusion of the Police investigation and eventual arrest of one of the perpetrators is a huge respite to the firm, as well as all its stakeholders.
“This is a big relief. We have finally been vindicated as not a few disbelieved us that our platform was hacked in the first place.
“But thanks to the diligence of the Nigerian Police and the unwavering commitment of my colleagues, we are delighted that our customers now have more reason to continue to trust us. The dark days are over.
“With this development, Nigerians can now see that we have always been a truthful, fair, and responsible organization with the best interest of our customers at heart, ” he said.