Force PRO, CSP Olumuyiwa Adejobi, said the suspects signed up on a PoS platform known as Tmoni Technologies Company using their Bank Verification Numbers (BVN) and those of their friends and relatives without their consent.
They proceeded to open valid wallet accounts with Tmoni, manipulated the company network security system, and fraudulently transferred funds to the tune of N16.1m from the Tmoni platform to various online accounts from where they made subsequent withdrawals.
Upon their arrest, the suspects were found in possession of several mobile phones, PoS machines, SIM cards, Automated Teller Machine (ATM) cards, and one Toyota Matrix car with registration No: KUJ 548 CN, which they confessed was bought with proceeds of the crime.