Yahoo Boys: EFCC Secures Conviction of Yahoo Boy for Internet Fraud

The Ilorin Zonal Command of the Economic and Financial Crimes Commission, EFCC has secured the conviction of a 30-year-old man, Yusuf Olarewaju, a native of Erin-Ile in Oyun Local Government Area of Kwara State over offences bordering on internet fraud.

Justice Adebayo Yusuf of the Kwara State High Court sitting in Ilorin found Olarewaju guilty of the one count charge brought against him by the anti-graft agency.

Justice Yusuf sentenced the convict to six months imprisonment with option of fine of N200,000. The court also forfeited all the instruments used by the convict to perpetuate the crime including the cash found to be proceeds of crime in his account to the Federal Government.

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The court held that other items which include a Mercedes Benz GLK 2010 model; a Toyota Camry 2013 model; a Toyota Corolla 2005 model, iphone 14 promax and the sum of N24,364,860 (Twenty Four Million, Three Hundred and Sixty Four Thousand, Eight Hundred and Sixty Naira) be forfeited to the federal government as well.

Olarewaju’s journey to jail started on October 23, 2022 when he was arrested following actionable intelligence about the activities of syndicates of fraudsters operating in Erin-Ile and its neighbourhood.

Investigation revealed that Olarewaju, while using a fraudulent email, ksmithkatie27@gmail.com posed as one Smith Katie, a white female from Missouri, USA, to strike relationships with one James Gibson (Jimmy) and Stephen Speer, both of whom he swindled to the tune of $30,000 USD between 2021 and 2022.

The convict pleaded guilty to the charge against him.