The Economic and Financial Crimes Commission (EFCC) Lagos Zonal Command arraigned Friday Audu, accused of masterminding a massive cryptocurrency and romance fraud syndicate, before Justice Rahman Oshodi at the Special Offences Court in Ikeja on May 5, 2025.
Audu and his company, Genting Nigeria Limited, face seven charges, including retaining $2.5 million and N3.5 billion in illicit funds, forgery, and possessing fraudulent documents.
The EFCC alleges Audu led a 792-member network defrauding victims globally, with $1.26 million in USDT (Tether) held in a Binance wallet and $1.3 million in a BYBIT wallet, both linked to scams. Arrested on December 10, 2024, during the EFCC’s ‘Eagle Flush Operation,’ Audu pleaded “not guilty.”
Prosecutor Bilikisu Buhari opposed bail, citing damage to Nigeria’s reputation and flight risk. Justice Oshodi remanded Audu to a correctional facility, adjourning the case to June 2–3, 2025, for a bail ruling and trial.
