STORY: How Yahoo boy used yahoo money to purchase POST UTME form

A 19-year-old boy whose name is Emmanuel David has been arrested for being a suspected internet fraudster. He was arrested by the Osun state Police Command in the Ojo area of Lagos. He was arrested alongside two other teenagers, Chibuike Godspower, 16, and Jesse Izedi, 16. It was claimed that he was caught in his first deal worth N315,000.

During interrogation, Emmanuel confessed that he used the proceeds of his internet fraud scam to pay for his POST-UTME examination expenses.

According to him, he actually withdrew the money from the online Union-direct account of his unsuspecting facebook friend, who operates a Point of Sales, POS terminal. He explained that the victim has a union bank account, but being a POS operator, he also has a Union direct account, hence, he was able to move the money from the account to Godspower's online account after Jedi guessed the victim's password.

In his interrogation, he added that he used the money to travel to Calabar in Cross Rivers state for his POST UTME in February and he also used the money to pay for his accommodation. 

Jesse Izedi on the other hand said that he was given N10000 from the proceeds for guessing the password accurately,  He said; "When David told me about his venture and that he had difficulty decoding the password, I told him  to try the victim's date of birth from 1980 downward and it worked. He gave me ten thousand naira from the proceeds