The Osun State Police Command announced on Tuesday the arrest of Mr. Adeniyi Talabi, a manager at a first-generation bank branch in Osogbo, for purportedly embezzling N650 million belonging to 35 bank customers.

According to Yemisi Opalola, the command’s spokesperson, the suspect stands accused of deceiving victims and misappropriating funds through a fraudulent scheme known as proof of funds.

Opalola stated that the bank has suspended Talabi pending investigations, which are currently ongoing.

She assured that once the investigation concludes, Talabi and any accomplices will face prosecution in court.

In a statement, Opalola said, “The Osun State Police Command, in its efforts to rid the state of criminal elements, has apprehended Adeniyi Sunday Talabi, a 47-year-old resident of Army Barracks Area, Kelebe, Iragbiji Road, Osogbo. Talabi, a manager at one of First Bank PLC branches in Osogbo, is accused of committing fraud, obtaining money under false pretense, conversion, and stealing a total of N650,850,000 from 35 victims through an illegal scheme called PROOF of FUNDS.”

She added that the state Commissioner of Police, Mr. Mohammed Umar, has reassured residents of the command’s commitment to combating crime and warned perpetrators that Osun would not harbor criminal activities.