Precious Ojo has been arrested by the Operatives of the Economic and Financial Crimes Commission, EFCC, for alleged $268,000 fraud.
He was arrested by the Benin Zonal Command of the Commission.
Twenty-six year old Precious also known as Obago was picked up in Oghara, Delta State.
He was arrested following a petition received from a United States of America citizen, on his alleged fraudulent activities.
According to a statement signed by Wilson Uwajaren, the Agency:s Spokesperson, the petitioner had alleged that the suspect impersonated one Raymond Bush who works in the US Treasury to defraud her of $268,000.00.
He was arrested at his hotel in Oghara.
During interrogation, the Commission said he confessed to building the luxury hotel with his alleged proceeds of crime.
Other items recovered from him include a Mercedes-Benz car with personalised plate number and mobile phones.
The suspect will be arraigned in court soon.