Major operations target suspects in $50 million fraud case
Published:Tuesday | June 14, 2022 | 10:56 AM
Law enforcement authorities have apprehended two men they believe are part of a syndicate that stole close to $50 million from a financial institution through a sophisticated cybercrime scheme.
The arrests were made during a series of coordinated operations by the Financial Investigations Division (FID) and the police’s ounter Terrorism & Organized Crime Investigations Branch (CTOC) mainly in South St Andrew on Tuesday.
Three other men are still being sought in the ongoing operations, police and FID officials confirmed.
“They are believed to have gained unauthorised access to a local financial institution and subsequently stole large sums of money,” a FID spokesperson said in a statement.
Last month, three men were arrested and charged with money laundering for their alleged involvement in the scheme.
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