The Economic and Financial Crimes Commission (EFCC) has arrested a Nigerian music executive, Mr Efe Ogbeni, for alleged $250,000 fraud committed in the United States of America.
Ogbeni was arrested in Lagos State on Tuesday by EFCC operatives after he was traced to a hotel in the posh Ikoyi area, SaharaReporters gathered.
A source in the anti-graft commission also confirmed the arrest to SaharaReporters on Wednesday evening.
“He has been arrested by the EFCC. He was arrested at a hotel in Ikoyi, Lagos, on Tuesday,” he said.
SaharaReporters had in July 2022 reported that Ogbeni was dragged before a United States District Court of Western Tennessee by Prime Reality Ventures LLC, a Venture Capital Company in the US, for allegedly defrauding the company and its Principal to the tune of $250,000.
The defendants, Onefeme Ogbeni, Olayinka Odunlami and Nelly Wambugu were facing numerous charges on conspiracy of obtaining money by false pretences.
According to the court documents obtained by SaharaReporters, Ogbeni alongside two others committed the crime between July 2021 and September 2021 in the US.
Prime Reality Ventures (the Company), said the suspected fraudsters intentionally and under false pretences presented a dummy investment opportunity in the African oil and gas industry which turned out to be a sham.
According to the company, sometime in July 2021, the defendants approached the organisation and its owners about investing in the African oil and gas market.
“Efe Ogbeni and his co-defendants falsely presented themselves as being versed and having the requisite skill and expertise and contacts in and outside of Africa,” it said.
“Interested to diversify their investment portfolio, the company arranged meetings between the plaintiff and the defendants. Along the line, the defendants intentionally told Reality Ventures LLC and owners that there were other investors involved in the project and one of them is willing to sell his equity in the project.
“The Company was asked to wire the sum of $250,000 which will be used in purchasing the equity of Quantex Oil and Gas in the project. The Company was meant to believe that the valuation of Quantex Oil and Gas in the project is worth $10,000,000.
“Relying upon all the representations made by the defendants, on or about September 17, 2021, the plaintiff invested and wired the sum of $250,000 from their bank account at Patriot Bank in Tennessee to the defendants.
“Prime Reality Ventures LLC was asked to wire the fund to Stealth Management Inc, a company allegedly owned by the defendants claiming it had a binding agreement with Quantex Oil and Gas. The plaintiff amongst others is asking for damages of $1m, the repayment of the initial $250,000 invested in the project as well as other costs and expenses of this litigation plus punitive damages,” the company said.
SaharaReporters had reported that the case was also referred to the EFCC in Nigeria for further action.