Four are from the Federal University of Technology Akure, (FUTA) and another fromÂ Adekunle Ajasin University, Akungba ,Â (AAUA).
They were arrestedÂ Â atÂ an Off- Campus residenceÂ located at Anuoluwapo Close, Stateline Hotel Road, off FUTA South Gate, Akure, Ondo.
A statement by the Head of Media and Publicity of EFCC, Mr. Wilson Uwujaren said
â€œ The fraudsters who are between 20 and 23 years of age include: Adeleke Paul (21),Â Adebiyi Tayo Abudu (22) , Akinsanmi Olusola Adeniyi (21), Ogundile Ademola James (23) and Okali Ugochukwu (21).
â€œThe commission got wind of their activities through series of intelligence.Â Paul and his co-travelers, who go about with the name Tsunnami Gang and Young Pablo Money allegedly swindled unsuspecting foreigners and others to the tune of N16million recently.
â€œThe suspected fraudsters engaged in fraudulent activities of obtaining money by false pretences through scam mails.
â€œPaul is a penultimate final yearâ€™s student of Building Technology while James and Olusola are both 400 level students of Agricultural Resources and Mathematics respectively.
â€œOkali is a 200 level student of Urban and Regional Planning, while Adebiyi Tayo is a 300 level Student of Mathematics of the Adekunle Ajasin University. Akungba, Ondo State.
â€œAt the point of arrest, EFCC operatives recovered a 2006, black Toyota highlander with registration number(Lagos)Â LND 112 EG,Â 2010 light- green Toyota Camry (Muscle) registration number (Lagos) AAA 850 EF, laptops, three Apple iphone6 and three Blackberry phones from them.
â€œSome implicating documents were also found and downloaded from their laptops.
They are to be arraigned in court as soon as investigation is completed.â€