Photo: 70 year old man arrested for N42million Stock Fraud | Welcome to Linda Ikeji's Blog

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Sunday, 16 November 2014

Photo: 70 year old man arrested for N42million Stock Fraud

Find the EFCC press statement below
A 70-year-old man, Adebola Oyewole Asiwaju, has been arrested by the Economic and Financial Crimes Commission, EFCC, for allegedly attempting to fraudulently sell the shares of one Olalere Sunday Oladosu.
To perfect the scam, the suspect allegedly forged documents and opened a bank account in a new generation bank, with the assumed name of “Olalere Sunday Oladosu”.
Then, he proceeded to instruct Marina Securities, a brokerage, to dispose of 1.7million units of Zenith Bank shares valued at N42million and remit the proceeds to the account he opened with the new generation bank.
The lid on the scam was lifted when a routine check by staff of Marina Securities revealed some discrepancies in the documents presented by the suspect and the ones the genuine owner of the shares had filed with the defunct Intercontinental Securities Limited.
Consequently, the suspect was arrested by the Nigeria Police, and later handed over to the EFCC for further investigation and prosecution.
The suspect is alleged to be neck deep in stealing shares of unsuspecting investors and selling them for a commission. He is believed to work for a syndicate and receives 10 percent of the proceeds of any “business” that sails through. His accomplices are still at large. Other names that Asiwaju has used in fraudulent shares sale include, Babajide Odunso and Chief Bolaji Carew. The suspect will be arraigned in court as soon as investigation in concluded.

37 comments:

@MEETD®EALEVANS™ said...

Na who dem catch be thief....

Anonymous said...

DIS KIND OLD MAN.NAWA O

Val lala said...

Chai!! Baba so dis is how u wanna enter jail??? It's unfair o! Valentinechisom7@gmail.com

oilandgasdissertation said...

sad

Anonymous said...

At 70 he's still into fraud. May God help his children

Unknown said...

Yoruba na aka ntutu.....even @ old Age... Nawaao

Amicable said...

Scam everywhere now

Anonymous said...

Nawaooooo this kind grandpa hmmmmmm.CHI.

Unknown said...

Old man for God's sake SMH

BORN TO SHINE!!!

Chinweude said...

You can not "unlearn" in old age what you have perfected throughout you youth. 419, Yahoo yahoo of the heighest order!!!

Unknown said...

nawaooo! bribery and corruption has not limit in Nigeria! even at 70! maybe he is preparing for his burial...


#GoblessNigeria

APPLELIPX said...

Hehehhehe....
Papa Your days must be fruitful by force

Unknown said...

Let him face d music nah... Old poor frauster

Anonymous said...

Papeee y now? U are too old to do dat...olubukola daniels aka blackmamba...

ujunwa said...

Ndi ofe mmanu na fraud ..at 70 instead of giving his life to God onodu na ajo ego ...End time

Unknown said...

Someone must have lured this man to it I cant believe he plan this all by himself

ary said...

At 70 na when he wan finish the money? He start late na! At 70 highest 5 more years before the swear of the person money wey he thief catch am! Now he go spend him twilight years for a one window room wey he dey share with 50 others!

Unknown said...

Na u b d original baba 70

Anonymous said...

Sir Alex ferguson is 72,same age with this man...but crime has made this one look like a 200yr old man #I pity ur children#

didi said...

Baba respect your age

Amablaze said...

Kia dis kind old man..

Unknown said...

Abeg they shud free dis papa, the nigga was only hustling jor..

Anonymous said...

Yea he was only hustling to get himself some bread niggaz.
Life is hard out there pussy's.what you thought he was gonna be walking in that life support walking stick,eating kola,and in dark old school glasses.
Na no niggaz is legit men,every dickhead out there aint legit,ppl scam to beat themselves off poverty stricken country called nigeria.
Just dat dis old man now is gonnabe behind bars till christ comes.
Sorry aypar,na jail tins 4life.
Judge go consider am say since u don old finish,make dem add 40years to your jail sentence make you just die there.

Unknown said...

a.k.a EDWIN CHINEDU AZUBUKO said...
.
So even baba sabi this type of thing.... This is serious....
.
.
***CURRENTLY IN JUPITER***

Anonymous said...

...Knew this man thru a banker friend in 2010, they almost mess my life upl with their fraudulen ideas but i thank God, i ve let go to let chist He is a Leader of a fraudulent group including bankers from over 7 banks. In one month he caused five bankers to loss their job. Baba pay the price

Subomi said...

at 70, hmmmm

Anonymous said...

Hi baby oku, am a Nigerian based in the canada, i would really like to have your contact

Anonymous said...

Na wa o,e no easy

APPLE said...

So old age did not slow this baba sown??!!!

Anonymous said...

This is a shameful act, grandpa at ur age, where are u taking d money to hell I think. A disgrace to ur family at ur age.

RareSpecie said...

Typical Old School. Dude holdin the position of a Headmaster in the game n still doin his thang at 70. A born crook n die hard con. I think this Pa wil be useful in related field as his intellect wil assist in curtailin such activities if given the job. Bt i doubt he wil repent.

Anonymous said...

Choi!! No xmas for dis one, but wait, I no say na Yoruba man e go be, desperate Old nigga, God don catch am abeg jail am for life no time!!

Unknown said...

Baba 70 fraud_star

Unknown said...

U guys saying old age, wat of buhari dem, our president nd governors. Are dey not old?

Unknown said...

That serves him right, is that wat u'v bn teaching ur children, how then can Nigeria be void of corruption.

snowflix said...

A fraudster @ 40 is a scammer forever so I ain't surprised at granpa 'lol' #onelovefromSnow#

Anonymous said...

So what do you say for the younf graduate who invested his/her savings and may lose it all due to securities fraud

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