70 Yr-Old man Arrested For N42M Fraud.
according to report,70-year-old Adebola Asiwaju has been accused of being a member of a
notorious gang which specializes in illegally selling off investors’
shares.The Economic and Financial Crimes Commission (EFCC) has arrested a 70-year-old man over allegations of fraud.
Adebola Asiwaju has been accused of being a member of a notorious gang which specializes in illegally selling off investors’ shares.
According to a statement by the EFCC:
A
70-year-old man, Adebola Oyewole Asiwaju, has been arrested by the
Economic and Financial Crimes Commission, EFCC, for allegedly attempting
to fraudulently sell the shares of one Olalere Sunday Oladosu.
To
perfect the scam, the suspect allegedly forged documents and opened a
bank account in a new generation bank, with the assumed name of “Olalere
Sunday Oladosu”.
Then, he proceeded to
instruct Marina Securities, a brokerage, to dispose of 1.7million units
of Zenith Bank shares valued at N42million and remit the proceeds to the
account he opened with the new generation bank.
The
lid on the scam was lifted when a routine check by staff of Marina
Securities revealed some discrepancies in the documents presented by the
suspect and the ones the genuine owner of the shares had filed with the
defunct Intercontinental Securities Limited.
Consequently,
the suspect was arrested by the Nigeria Police, and later handed over
to the EFCC for further investigation and prosecution.
The
suspect is alleged to be neck deep in stealing shares of unsuspecting
investors and selling them for a commission. He is believed to work for a
syndicate and receives 10 percent of the proceeds of any “business”
that sails through. His accomplices are still at large. Other names that
Asiwaju has used in fraudulent shares sale include, Babajide Odunso and
Chief Bolaji Carew. The suspect will be arraigned in court as soon as
investigation in concluded.
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