Two men have been charged in Westminster Magistrates’ Court, London, over a £1m phishing scam which swindled hundreds of UK students.
Amos Mwangi, 25, of Rochdale Way, Deptford, south London, and Damola Olatunji, 26, of Hamsterley Avenue, Manchester, were remanded in custody until February 17.
Their next appearance is scheduled at Southwark Crown Court, according to reports.
Both are accused of conspiracy to defraud, while Olatunji has also also charged with possession of an article for use in fraud.
Five other people arrested have been bailed until March pending further inquiries.
According to Scotland Yard, a criminal network targeted students on government loans, urging them to reveal their bank account details.
The five bailed include a 25-year-old woman from Manchester, a 49-year-old woman and a 31-year-old man arrested in Stratford, north-east London, and a 38-year-old man from Bolton, Lancashire.
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Metropolitan Police Service’s Central e-Crime Unit’s Detective Inspector Mark Raymond said a great deal of personal information was compromised and cleverly exploited for substantial profits. "We have today disrupted a suspected organized group of cybercriminals and prevented further loss to individuals and institutions in the U.K.," Raymond stated.
