A teenager online fraudster, Emmanuel David (19), has disclosed that he used the proceeds of his online scam to pay for his post-University Matriculation Test Examination expenses.

David, who was nabbed by the Osun State Police Command with two other teenagers, Chibuike Godspower (16) and Jesse Izedi (16), claimed he was caught in his first deal worth N315,000.

According to him, he withdrew the money from the online Union-direct account of his Facebook friend, who operated a Point of Sales (POS) terminal.

The victim has a Union bank account, but being a POS operator, he also has a Union direct account; "hence, I moved the money from the account to Godspower’s online account after Jedi guessed the victim’s password.

"I used the money to travel to Calabar in Cross River State for my post UTME in February this year and also pay for my accommodation from the proceeds," David said.

Meanwhile, one of his accomplices, said he was given N10,000 from the proceeds for guessing the password accurately.

“When David told me about his venture and that he had difficulty cracking the password, I told him to try the victim’s date of birth from 1980 downward and it worked. He gave me N10, 000 from the proceeds,” he said.

Similarly, Godspower said he was given N30, 000 having made available his online account details in which the money was deposited.

Osun Commissioner of Police, Olawale Olokode said the suspects were arrested in the Ohio area of Lagos State following a petition from the victim.

He said they will be arraigned in court after a thorough investigation. (Vanguard)