@SOUNDAZA

The Economic and Financial Crimes Commission (EFCC) has blocked 16 accounts traced to the Chief Executive Officer (CEO) of Galaxy Transportation and Construction Services Limited, Babagana Dalori, who has been accused of defrauding 27,400 Nigerians of about N7 billion.Dalori is being detained by the EFCC for interrogation by the agency’s operatives.

The suspect has allegedly agreed to part with some of his properties.But Dalori, who insisted that he is not a fraudulent businessman, blamed his company’s fortunes on economic recession.According to a top source, the EFCC decided to investigate Dalori and his company, following the receipt of a petition by 63 Nigerians who complained of being defrauded by the suspects.

The source said: “The 63 petitioners alleged that they invested in a company named Galaxy Transportation & Construction Services Ltd for a period of one year with fixed percentage of return on investment.

It was further alleged that at the end of the investment period, the company neither paid the interest nor the capital.“On receipt of the petition, the following actions were carried out: all the 16 accounts linked to the suspects were traced and blocked; and 22 documents of various properties were recovered.

“Investigation into this case is still at preliminary stage as the team is intensifying efforts to trace all assets that belong to the 1st suspect (Galaxy Transportation and Construction Services Limited) and the 2nd suspect (Dalori).“So far, twenty two (22) properties have been traced to the suspects including Six (6) filing stations and five quarries across different states.

“Also, responses from banks and Corporate Affairs COmmission (CAC) are being awaited. Preliminary investigation has so far revealed the possibility of the suspects to have diverted the funds of various investors to other business rather than the businesses they invested in.“At the end of the investigation, we may have a case of criminal breach of trust and obtaining money under false pretence.

”Furthermore, the suspect express willingness to part with his properties to settle settlement with the petitioners.”A document gave insight into the business activities of the suspects.It said: ”Due to the trust reposed in him, investors keep on investing in his Galaxy scheme.

He used flyers, advertisements in the television and radio stations in order to convince the investors.“He even went to the extent of organising Nollywood to act a movie for him over the scheme.

He specifically organised some actors and actresses in Kannywood to act in a movie called “Zero Hour” to show the need for people to invest in Galaxy.“Unfortunately, his gimmicks paid off as different people took their hard earned savings, inheritance, pensions and other source of income and invested in Galaxy.

“Now, the scheme has crashed and investors can no longer get their money.“Though the agreement signed by the investors with Galaxy was specific- transportation and construction services. But he has now diversified into other areas in contrast to the agreement.“At the moment, he has used the investors’ money to incorporate different entities without getting their consent.

He now has Galaxy Global Energy Concept Ltd, Galaxy Miners Concept Ltd, Galaxy Global Farms, Galaxy Computers, Galaxy Block Making Factory, Galaxy Hospital and Galaxy Hotel.”Contrary to the claim of Galaxy spokesman that the matter was civil and not criminal, the business of deposits taking under Nigerian legislation can only be undertaken by a licensed deposit- taking financial institutions as enshrined in Banks and Other Financial Institutions Act (BOFIA), CBN Act and the NDICBut a statement by the spokesperson of the company, Mr. Cletus Onoja, said the arrest of Dalori was not based on fraud.

Onoja said Dalori was merely taken for investigation by the EFCC following a petition by the company’s clients.He said what was at stake was that the company could no longer meet its obligations to its clients within the time expected of it for reasons beyond its control.“As such, some investors who were not satisfied with our explanation and efforts currently put at recovering the loss petitioned the EFCC even though the matter was civil and not criminal.

“As an obedient citizen of the country, the MD/CEO turned in and gave himself to the Commission’s interrogations,’’ he added.”It is on record that even when the country was in recession in 2016 and 2017, our company did not fail to meet its obligations to pay its clients and business partners.

He said the company runs a legitimate transportation and construction services business in over five states in the country with its headquarters in Abuja for the last nine years..

”The company’s management is working round the clock to overcome the challenges; it is sad that it has already caused serious worries in the minds of our clients and affected our cordial relationship.’’

SOURCE: https://soundaza.com/babagana-dalori-scam/

If you have a dog named Kanu, and you get another female dog, do you really have a choice but to name her
Uchechi Okwu?

Ok

Chaiii.. 16 Account

Hmm

Funds

16 accounts kilode.

Leave the masses and concentrate on those in power.































Bleep this shithole
































Am out.!

AIMS ASSET , HERE WE COME FOR YOU

The reason ivos have criminal genes is to remind nigerians we're Nigerian too

Ok now

watch as cownu pornographers rush to yell media trial but won't say the thing when that UT student was caught on camera stealing 500k

ok

I also invested in this galaxy transport stuff and the guy's business has been thriving for more than 7years now, however recent decline in construction and earth tremour that happened in mpape where his quarry is located which made government to close it down is the major problem of this man.

My 3 million is hanging but I'm not really fretting at all because I know his business and I know why he is having problems.

My concern is the efcc this people got involved, if I had 80% chance that my money is coming out b4, now it is 20% because efcc will just seize those quarry, busses and dump truck he has been using to run the business and the whole stuff will be grounded to halt.

This too shall pass away, administrative bail Issa banger soonest...

tactius:
On a more serious note

Nigerians should be careful about how they invest.

MMM should have taught us a big lesson. If it is too good to be true, if it is offering you 120% return on your investment in one month...issa scam most likely.

I hope EFCC prosecutes the case...and jails the guy for a long time.



Wow...the guy is in serious soup. You sign a contract, you don't live up to it. No judge is going to rule in his favour...especially as judges are very firm about contracts....

@bolded, honestly the guys business in not MMM like stuff, I know his business very well and it has been in operation since 2011, I'm an active investor and it is part of my diversification. The guy operates quarry, dump trucks, transport busses etc and he has never missed payment timing.
His trouble started when some money bags saw opportunities in his stuff and one guy from kano drop 500million for him shortly after that earth tremour occurred in Mpape in Abuja where his major quarry is located and government suspend all quarry works in the area and serious decline in real estate construction in Abuja.

I knew the guy will have problem meeting up payment when I went to resolve some issues in his office in gwarimpa and I saw over 200 tippers (dump truck) parked, those trucks should be working.

StupidInyamiri:
If you have a dog named Kanu, and you get another female dog, do you really have a choice but to name her
Uchechi Okwu?

Grow up, bigot.

koolcat:
Leave the masses and concentrate on those in power.


Am out.!

So we should leave thieves like this because you like them, and focus only on the thieves you don't like?

Would you have been saying this if you were one of the victims of Master Galaxy?

You better grow up.

On a more serious note

Nigerians should be careful about how they invest.

MMM should have taught us a big lesson. If it is too good to be true, if it is offering you 120% return on your investment in one month...issa scam most likely.

I hope EFCC prosecutes the case...and jails the guy for a long time.

The suspect has allegedly agreed to part with some of his properties.But Dalori, who insisted that he is not a fraudulent businessman, blamed his company’s fortunes on economic recession.According to a top source, the EFCC decided to investigate Dalori and his company, following the receipt of a petition by 63 Nigerians who complained of being defrauded by the suspects.

The source said: “The 63 petitioners alleged that they invested in a company named Galaxy Transportation & Construction Services Ltd for a period of one year with fixed percentage of return on investment.

It was further alleged that at the end of the investment period, the company neither paid the interest nor the capital.“On receipt of the petition, the following actions were carried out: all the 16 accounts linked to the suspects were traced and blocked; and 22 documents of various properties were recovered.

Wow...the guy is in serious soup. You sign a contract, you don't live up to it. No judge is going to rule in his favour...especially as judges are very firm about contracts....

Nigeria is the worst place to do business. no light, no roads no infrastructure

Same people are scared of freezing Aisha Buhari's account. Where did she get money for her upcoming university? Certainly not from her business as a hair dresser.

Kk

This kind of people again. If they throw him up and slam him on the floor if he has made up his mind not to return a Kobo he wont. Patapata they will take him to prison and will be released one day in an uncertain future