Abayomi Segun Oluwasesan, a prominent figure in Lagos, has been apprehended by INTERPOL in Nigeria for his alleged involvement in hacking his company's blockchain system and stealing a staggering sum of billions of Naira.
Oluwasesan, initially employed as a web developer by Afriq Arbitrage System, a global crypto space company, took advantage of the trust placed in him while his boss, Jesam Micheal, underwent a liver transplant. He used his access to the platform's codes to orchestrate the breach.
With the help of his associates, Oluwasesan disrupted the platform's operations and embezzled substantial amounts of money from investors. It is estimated that he illicitly withdrew over $87 million, which he spent lavishly.
He ventured into various extravagant purchases, such as establishing a car dealership called Fidoray Autos and importing more than 30 luxury vehicles. Additionally, he acquired a house and obtained residence permits in the UK, Tanzania, and Dubai, UAE.
Among his other notable acquisitions were a plaza worth N450 million in Lagos and landed properties near the Dangote refineries valued at N1 billion. He also invested a billion naira in the interior decoration of his hotel in Mainland, Lagos State.
Oluwasesan indulged in globe-trotting using investors' funds, frequently traveling in first-class accommodations.
His fraudulent activities eventually led to the collapse of the once-profitable platform on May 15, 2023.