A 27 year-old graduate of the Benue State University, Ifeanyi Chuks Nwamannah has been arrested by the EFCC for being in possession of 41 ATM cards, bearing various names.
Nwamannah from Ogba/Egbema/Ndoni Local Government Area of Rivers State, was arrested 29 June , at the Fruits Market, Wuse Zone II, Abuja, following an intelligence report.
He is being held on suspicion of perpetrating electronic fraud.
Other items recovered from him are a Toyota Venza car with Registration Number KUJ -300 MK, one PoS Machine, two Apple Laptop computers, six iPhones, one Nokia torchlight, one Apple wrist watch and one Driver’s licence.
The Benue State University graduate of Political Science and agent to a soccer betting company, claims he uses the ATM cards for Chargeback.
Chargeback is the fraudulent act of using an ATM card to withdraw money and afterwards call the bank to dispute the transaction and ask for a reversal.
He will be charged to court as soon as the investigation is concluded, said EFCC spokesman Wilson Uwujaren.