…obtains N5m Life Insurance Policy
Internal auditing by an oil company has revealed how its operations manager embezzled money into millions.
The company, Made Global Entertainment Limited was stunned speechless to discover that its trusted operations manager, Emeka Cyriacus Onyenuforo, has been doctoring the accounts.
On 4th of November 2022, the suspect was charged to Court for offences bordering on fraudulent conversion and stealing of N35million belonging to his employer, Made Global Entertainment Limited.
The matter was investigated by the Police Special Fraud Unit (PSFU), Milverton, Ikoyi, Lagos State.
The Public Relations Officer of the Police Special Fraud Unit (PSFU), a Superintendent of Police (SP), Eyitayo Johnson, said: “The suspect, being the Operations Manager of the Oil & Gas Company, in charge of Distribution and Sale diverted thousands of litres of Automotive Gas Oil (AGO) worth the alleged sum to collaborators who sold same and re-routed the proceeds back to him-after deducting their commission-via personal Bank Accounts and that of family and friends. The fraud was uncovered when an internal audit revealed persistent and unexplained shortages in stock. PSFU investigation unearthed six accounts belonging to the suspect and his collaborators which were used to receive payments for the diverted stolen AGO. The investigation also revealed that the suspect utilised the proceeds of the fraud to obtain a N5million Life Insurance Police, built 2-Units of 3-Bedroom Bungalows in Imo State, 3 Mini-flats-fully completed- and 16-Units of another Mini-flat at Ikorodu, Lagos State. Efforts are ongoing to apprehend other suspects who aided the commission of the crime.”BEWARE All Rights Reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or part without prior express written permission from Juliana Francis