Operatives of the Economic and Financial Crimes Commission, EFCC , have arrested a suspect, Adeleke Adeyemi, for his alleged involvement in a case of conspiracy, obtaining money by false pretence, diversion of funds, issuance of dud cheques and money laundering to the tune of N800million.
Adeyemi, alongside his accomplice, Odusanya Ayotunde Memphis, said to be at large, in their capacities as directors at Wafa Aggregate Limited, allegedly approached Eco Bank Plc for a loan facility of N800million for the procurement of petroleum products from Covalent Oil & Gas Services Limited in October, 2011.
Spokesperson for the EFCC, Wilson Uwujaren, said in a statement on Friday, that upon receipt of the loan facility, the duo allegedly diverted the funds to their personal use and defaulted in paying back the loan.
He said investigation revealed that five defunct Diamond Bank Plc cheques of N10million each allegedly issued by the suspect and his accomplice were returned unpaid upon presentation, adding that the suspect will soon be charged to court.
