The Economic and Financial Crimes Commission, Lagos Zonal Office, has arrested one Philemon Ibrahim Gora for offences bordering on obtaining money by false pretence, stealing, issuance of dud cheque and money laundering to the tune of N525,000,000.00( Five Hundred and Twenty-five Million Naira) in Lagos.

The suspect, through one of his front companies, Gracious Environ Workers and Planners Nigeria Limited, allegedly obtained the sum of N525m from a traditional ruler, Kabiyesi Jacob Esan of Ijesa, Osun State and owner of Liberitas Plc, with the assurance of converting it to the United Arab Emirate, UAE, Dirham for him.



According to the EFCC, Investigation revealed that the suspect allegedly transferred the money to his various accounts as well as to some Bureau De Change operators, who have confirmed giving the suspect the Dollar equivalent of the money in cash.

It was further alleged that the suspect, through another of his front companies, N-PAS Nigeria Limited, deposited 41 Sterling Bank cheques of N10m each, totaling N410,000,000 in favour of the complainant’s company, Liberitas.

But the cheques were returned unpaid due to insufficient funds.


The suspect will soon be charged to court
Source: https://fierceent.com.ng/efcc-arrests-man-over-525m-fraud/

E don red

why censor his face? if na yahoo boy them go show even their 10toes and all their earthly belongings.....the goes guy settle them well.

Omo
What was kabiyesi doing with such amount of money in the house?

But where did Kabiyesi get that money?

at last

Cash flow abi etc

Rev Gora

Why did they cover his face

This guy is dumb. Wey I for shaply contact aboki,change am deliver am. Make them bless me with 10m as take home package. Idiot
Greedy bastard. Thief

longetivity:
Why did they cover his face

them wan share the money with the remaining face when dem no show nah