Businessman Arrested Over Dud Cheques For N800million Bank Loan - Crime - Nairaland
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| Businessman Arrested Over Dud Cheques For N800million Bank Loan by VEXT: 9:35pm On Apr 10, 2021 |
A Lagos businessman, Adeleke Adeyemi, has been arrested by Lagos Zone of the EFCC for issuing dud cheques to cover N800million loan given by Ecobank. EFCC spokesman, Wilson Uwujaren, in a statement on Friday, April 9, said the suspect is also being accused of conspiracy, obtaining money by false pretence, diversion of funds and money laundering. It was gathered that the accused, along with his accomplice, Odusanya Ayotunde Memphis (now at large), are directors at Wafa Aggregate Limited. Together, they approached Eco Bank Plc for a loan of N800million for the procurement of petroleum products from Covalent Oil & Gas Services Limited in October 2011. Upon receipt of the loan, Adeyemi and Memphis allegedly diverted the funds to their personal use and defaulted in paying back the loan. Investigation revealed that the five Diamond Bank Plc cheques of N10million each issued by the suspect and his accomplice were returned unpaid upon presentation. https://www.facebook.com/273102863056662/posts/1449214998778770/
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| Re: Businessman Arrested Over Dud Cheques For N800million Bank Loan by Vaughanlanrewaj: 10:00pm On Apr 10, 2021 |
Poor risk assessment or there are accomplices in the bank who waved some of the due diligence processes. Ecobank is too big for this kind of heist nah |
| Re: Businessman Arrested Over Dud Cheques For N800million Bank Loan by yinkus6750(m): 10:33pm On Apr 10, 2021 |
How can post dated cheque be collateral for 800m loan? The banks will not give genuine business people loans. Except friends and cronies who mostly default. And most debts end up been bad and written off. |
| Re: Businessman Arrested Over Dud Cheques For N800million Bank Loan by dawnomike(m): 10:53pm On Apr 10, 2021 |
VEXT:This is not a case of business gone wrong leading to default... Outright scam was the motive right from the word go. |
| Re: Businessman Arrested Over Dud Cheques For N800million Bank Loan by Karlovych: 10:56pm On Apr 10, 2021 |
 Adeyemi Adeleke the algae soup eater
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