EFCC nabs 37 yahoo boys with 25 exotic cars in Imo state- The EFCC on Wednesday, May 1, arrested 37 suspected internet fraudsters in Owerri, the Imo state capital - The arrest followed a raid on some targeted residences in Okwu Urata, Aladinma and Egbu areas - In the course of executing the search warrants, items which included laptop computers, 25 five exotic cars The south-east zonal office of the Economic and Financial Crimes Commission (EFCC), on Wednesday, May 1, arrested 37 suspected internet fraudsters in Owerri, the Imo state capital. The arrest followed a raid on some targeted residences in Okwu Urata, Aladinma and Egbu areas. The commission said its action followed intelligence report which pointed that the suspects were living lavish lifestyles without any known means of livelihood, alleging further that they specialize in defrauding unsuspecting victims, through the internet. In the course of executing the search warrants, items which included laptop computers, 25 five exotic cars, which include several brands of Mercedez-Benz, Lexus, Toyota and expensive mobile phones, were recovered. READ ALSO: In new video Tonto Dikeh reveals ex-husband Olakunle Churchill is a Yahoo boy, not Obasanjo's son Speaking on the development, the zonal head, Usman Imam, who said the exercise was in line with the commission’s mandate decried the high rate of cybercrime in the zone which he blamed on the erosion and breakdown of country’s values. His words: “It is true that no society has been able to totally eradicate crime, but we are ready at least to reduce it to the barest minimum and it appears that this cybercrime is one of the challenges of our time, which the EFCC is willing to face drastically.” Questioning the lifestyle of the suspects, Iman said; “What is the business of a university student, a new graduate or youth corper looking for money to buy a car of N10 million? Obviously, this is rushing life and a collapse of our positive value system where people rarely want to start from a humble beginning.” He lamented that if nothing was done, the country’s leadership could be jeopardized as many youths involved in cyber-crimes are expected to take up leadership positions in the future. The EFCC had on Wednesday, April 3, arrested five suspected internet fraudsters in a sting operation in Uyo, Akwa Ibom. READ ALSO: Nigerian man with no walking limbs inspires the online community, bags 1st class degree from ABU (photos) Spokesman of the commission, Tony Orilade, in a statement in Abuja said the suspects were Uchendu Denis, Osinachi David, Chikezie Bright, Francis Martins and Okafor Emmanuel. He said that the suspects were arrested by EFCC personnel of Uyo zonal office at Nsini Odeyop street, Shelter Afrik Estate, Uyo, following an intelligence report. NAIJ.com (naija.ng) -> Legit.ng: Same great journalism, upgraded for better service! Street Gist: I will set up a company for yahoo boys - on Legit TV Source: Legit.ng - The EFCC on Wednesday, May 1, arrested 37 suspected internet fraudsters in Owerri, the Imo state capital - The arrest followed a raid on some targeted residences in Okwu Urata, Aladinma and Egbu areas - In the course of executing the search warrants, items which included laptop computers, 25 five exotic cars READ ALSO: READ ALSO: NAIJ.com Legit.ng: