Ishilove:

'‘Following the ....., you issued two post-dated cheques; one for the sum of $240,000,000 (Two Hundred and Forty Thousand United States Dollars Only) dated 20/12/2013...

Ishilove:
It appears super[sub][/sub] star, D’banj is having financial challenges as available report shows he has been hit with a $240,000 debt scandal.

A technology company, MindHub Technologies, headed by a top oil and gas industry player, Henry Ojogho, is claiming that the kokomaster, D’banj is owing the company the sum of $240,000 and another N15, 000,000.

According to the MindHub Technologies, D’banj, through his company, DKM Media Limited, obtained a loan of over N60m from them in January, 2013 and has not paid back the said sum despite signing an undertaking to do so.

In addition, the technology company claimed that the entertainer has issued two cheques already; one on December 20, 2013 and another on January 20, 2014, both of which had to be returned unpaid after presentation because the pop star’ accounts were not funded enough.

According to documents obtained by NET, a firm of attorneys, D.U.ODIGIE & CO acting on behalf of Henry Ojogho, in a letter addressed to D’Banj, wrote:

'‘Following the default by D KINGS MEDIA LIMITED to pay the debt to our client, and pursuant to the aforementioned personal Guarantee/Memorandum of Undertaking, you issued two post-dated cheques; one for the sum of $240,000,000 (Two Hundred and Forty Thousand United States Dollars Only) dated 20/12/2013, and the other for the sum of N15,000,000,00k (Fifteen Million Naira Only) dated 20/1/2014.

Both cheques were returned unpaid on presentation by our client. We are further informed that although you thereafter paid the sum of N8, 600,00.00K (Eight Million, Six Hundred Thousand Naira Only) out of the N15,000,000,00k (Fifteen Million Naira Only) (in) Cheque, leaving a balance sum of N6,400.000.00k (Six Million, Four Hundred Thousand Naira Only), you have failed, neglected or refused to redeem the entire or any part of the $240,000.00 (Two Hundred and Forty Thousand United State Dollars) cheque.'’



It has further been revealed that Henry Ojogho is not the only wealthy man claiming D’banj owes him in recent times. There are a number of others.

'‘Using the sympathy and naivety of unsuspecting investors coming into the game to dupe them is criminal and absolutely destroying the image of the industry at large, because in the long run, it affects and corrupts the judgment of genuine investors who would pull out for fear of being duped,'’ a source told NET.

Below is are a number of names he allegedly owes, according to sources:

WALTER WAGBATSOMA (200,000 Pounds) Mr Walter is a billionaire with investments in major areas, ranging from oil and gas to real estate, banking, equities and even insurance. He is the founder and executive Vice Chairman of Ontario Oil and he’s one of the first men who were said to have handed money to D’banj, with a whopping sum of 200,000 Pounds said to be involved.

PRINCE D. OKONKWO ($200,000) He’s the chairman, Board of Directors of Tetrazini Group of Companies and he is said to have given about $200,000 to D’banj in the name of investing in entertainment. When the issue with Prince Okonkwo got out of hand, D’banj was said to have sought help from Dapo Abiodun, boss of Heyden Oil and Gas who helped him take care of the debt through a repayment plan.

Source:http://dailypost.ng/2014/11/24/dbanj-hit-messy-debt-scandal/