Categories: News

BREAKING: Police Arrest Platform Capital Chairman Dr. Akintoye Akindele For Fraud

Police have arrested Platform Capital Chairman Dr. Akintoye Akindele for alleged fraud.

 

CityNews Nigeria reports that Dr. Akintoye Akindele, the Chairman of Platform Capital, has been taken into custody by the Nigeria Police Force on charges of fraudulent activities.

Advertisement

 

The allegations revolve around the diversion of payments for crude oil supplied to Duport Midstream Company Limited, a case that has garnered attention due to its multi-dimensional implications.

Advertisement

 

Akindele’s ordeal began with an invitation from the Nigeria Police Force, which he reportedly ignored by leaving the country. The allegations against him state that he sold crude oil to Duport Midstream Company Limited and received payment for it, but failed to account for the transaction when confronted.

Advertisement

 

Furthermore, Akindele is under investigation following a separate petition from concerned shareholders of Duport Midstream Company Limited. This petition alleges misappropriation of company funds amounting to millions of dollars.

Advertisement

 

At the heart of the investigation lies Dr. Akindele’s dual role as the interim Managing Director of Duport Midstream Company Limited. While he admitted to receiving the funds, he purportedly refused to provide an explanation for their use.

Advertisement

Even more concerning is his resistance to the company-appointed forensic auditor’s attempts to scrutinize the financial records for any discrepancies.

 

Advertisement

Currently, in police custody, Akindele faces a challenging road ahead as the legal process unfolds. The investigation seeks to determine the extent of his involvement in the alleged fraudulent activities and whether his actions indeed led to the diversion of funds meant for the crude oil transactions.

Advertisement

 

In a surprising turn of events, the arrest also casts a shadow over Akindele’s recent personal celebrations. Just a month ago, he tied the knot with Dark Chocolate in an extravagant wedding ceremony held in the Maldives. However, these festivities are now overshadowed by the serious legal troubles he is facing.

Advertisement

 

In the midst of this unfolding drama, a connection has emerged with the Nigerian music industry. Eldee Tha Don, a prominent figure in the music scene, has come forward to shed light on Akindele’s alleged involvement in a deal that caused significant harm to his music business plans.

Advertisement

 

Eldee, who was at the helm of Trybe Records, a label that nurtured notable artists and producers, revealed in an interview that Akindele, operating under the guise of a venture capital company, orchestrated a scheme that ultimately derailed his music enterprise.

Advertisement

 

According to Eldee, Akindele’s venture capital company, Synergy Capital, purportedly approached Trybe Records with promises of funding and partnership to expand the label’s network. Eldee accepted the proposal, expecting a much-needed boost for his music ventures.

Advertisement

 

However, he claims that Akindele and his associates leveraged the venture capital vehicle to collect funds from investors while failing to inject the promised capital into the label. Eldee found himself shouldering financial burdens and navigating challenges without the anticipated support.

Advertisement

 

The revelations shared by Eldee paint a disturbing picture of how Akindele’s alleged actions affected the lives of artists, staff, vendors, and businesses associated with Trybe Records and its expansion project IMAN Entertainment.

Advertisement

 

Eldee recounts the personal toll of having to dip into his own accounts to sustain the venture, strained relationships, and emotional stress due to the alleged deceitful dealings.

Advertisement
citynews

Recent Posts

Prince Harry and Meghan Markle pursue separate projects

A royal commentator suggests that Prince Harry and Meghan Markle are taking separate paths in…

1 hour ago

#USElection2024: Harris closes campaign in swing states on eve of deadlocked election

PHILADELPHIA/GRAND RAPIDS, Michigan (Reuters) -Donald Trump and Kamala Harris both predicted victory as they campaigned…

2 hours ago

‘He’s With Us’, EFCC Confirms Ex-Gov Okowa’s Arrest Over N1.3trn Diversion

The Economic and Financial Crimes Commission (EFCC) arrested Ifeanyi Okowa, the immediate past governor of…

2 hours ago

Breaking: Tinubu Makes Fresh Appointment

President Bola Ahmed Tinubu has appointed Abdulrazak Yusuf Tukur as National Commissioner for the Independent…

2 hours ago

Hardship: We’ll No Longer Watch Anyone Insult Tinubu – Doyin Okupe Vows

A former Director-General of Peter Obi’s 2023 presidential campaign council, Doyin Okupe, has said that…

2 hours ago

BBNaija’s Dorathy goes naughty on her birthday(Photos)

Dorathy Bachor has put her massive cleavage on display as she turns a year older.…

15 hours ago