EFCC had arrested the four guys and another from Adekunle Ajasin University, Akungba (AAUA).
The suspects were arrested at an off-campus residence located at Anuoluwapo Close, Stateline Hotel Road, off FUTA South Gate, Akure, Ondo State.
A statement by the Head, Information and Protocol Unit of FUTA, Mr. Adegbenro Adebanjo, said the university’s vice chancellor approved the sanction.
The statement said: “The four students, who have been given indefinite suspension and are to stay away from the school until further notice, are Ogundile A.O , Civil & Environmental Engineering; Fasakin P. T, Civil & Environmental Engineering; Akinsanmi F.O, Mathematical Sciences; and Ifeobu U. O. of the Department of Urban & Regional Planning.
“In a letter conveying the suspension, the university said the vice chancellor approved the sanction based on the extant rules, which stipulate indefinite suspension for students arrested and being investigated for allegation of criminal activities.
“This is in accordance with the provisions of the university Handbook of Information 2012-2015 Page 54, paragraph 5(i) which states that, “Whenever a student is being investigated for a criminal offence by the Police or is charged with a criminal offence; whether or not connected with the university; the student shall be suspended from his studentship until he/she is cleared of the allegation/charge’.”
On Monday, the EFCC had explained how it intercepted the syndicate.
It said: “The commission got wind of their activities through series of intelligence. Paul and his co-travellers, who go about with the name Tsunami Gang and Young Pablo Money, allegedly swindled unsuspecting foreigners and others to the tune of N16 million recently.
“The suspected fraudsters engaged in fraudulent activities of obtaining money by false pretences through scam mails.
“Paul is a penultimate final year’s student of Building Technology, James and Olusola are both 400 level students of Agricultural Resources and Mathematics respectively.
“Okali is a 200-Level student of Urban and Regional Planning and Adebiyi Tayo is a 300-Level student of Mathematics of the Adekunle Ajasin University, Akungba, Ondo State.
“At the point of arrest, EFCC operatives recovered a 2006 black Toyota Highlander with registration number (Lagos) LND 112 EG, 2010 light- green Toyota Camry (Muscle) with registration number (Lagos) AAA 850 EF, laptops, three Apple iphone6 and three Blackberry phones from them.
“Some implicating documents were also found and downloaded from their laptops. They are to be arraigned in court as soon as investigation is completed.”