ADVERTISEMENT
  • InsideOyo
  • Contact
  • About Us
  • Privacy Policy
  • Submit A Story
  • Advertise with us
  • Support Us Today
Thursday, July 7, 2022
InsideOyo.com
">
  • Home
  • General News
  • Political News
  • Oyo Campus Gist
  • Entertainment
  • Special Reports
    • Opinion
    • Interview
  • Jobs
  • To Advertise
  • Support Us Today
    • Submit A Story
No Result
View All Result
  • Home
  • General News
  • Political News
  • Oyo Campus Gist
  • Entertainment
  • Special Reports
    • Opinion
    • Interview
  • Jobs
  • To Advertise
  • Support Us Today
    • Submit A Story
No Result
View All Result
InsideOyo.com
No Result
View All Result
">
ADVERTISEMENT
Home General News

Police Arrest Beedel Company CEO Over Alleged N816m Fraud

InsideOyo by InsideOyo
June 8, 2022
in General News
6.1k
0
Police Arrest Beedel Company CEO Over Alleged N816m Fraud
8.5k
SHARES
10.3k
VIEWS
Share on FacebookShare on WhatsAppShare on Twitter
">

The Police Special Fraud Unit (PSFU) Ikoyi, Lagos State, has arrested Ibadan-based businessman, Bukola Odeleye for alleged N816 million fraud.

The spokesperson, SP Eyitayo Johnson said the suspect is the MD/CEO of BEEDEL Strategic Investment Company.

Johnson, in a statement on Tuesday, disclosed that Odeleye was arrested on May 24, after weeks of discrete investigation.

He was nabbed for alleged forgery of 11 Local Purchase Orders (LPOs) of five multinational companies and one federal agency.

The police said Odeleye paraded himself on social media as a successful contractor in Civil Engineering/Construction, Real Estate and Supply/Importation of Heavy Engineering Equipment.

The BEEDEL boss allegedly operated in connivance with former and current procurement staff of the companies whose LPOs were used to perpetuate the fraud.

The PSFU said with forged LPOs of companies and the government, he approached banks and investment companies with proposal to finance the LPOs.

">

“He cleverly tenured to be paid between 30-60 days, to make the LPO financing appear juicy.

“The suspect was able to fraudulently obtain the sum of N816 million from two finance companies,” the police said.

The police noted that he diverted same to fund “extravagant lifestyles which includes building a mansion, office complex and purchase of exotic automobiles.

“He uses money from one bank, finance company to settle his commitments to another bank/finance company, to maintain the fraudulent cycle of robbing Peter to pay Paul.”

The PSFU added that Odeleye would be charged to court as soon as investigation was concluded.

It was gathered that the Department of State Services (DSS) first arrested the businessman in March.

Odeleye put up construction adverts across Ibadan, the Oyo capital, but no major development on the sites yet.

The suspect built his office on Ade-Oyo Hospital Road and mounted boards at the Ososami/Iyana Ade Oyo jucntion which showed him as a contractor

Share this:

  • Facebook
  • Twitter
  • More
  • LinkedIn
  • Telegram
  • WhatsApp

Like this:

Like Loading...
Tags: oyo state news
">
Please login to join discussion
">
">

Support Our Work Today!

Trending Stories

  • IBEDC Introduces New Initiative To Enhance Customer Experience

    JUST IN: FG Approves Takeover Of IBEDC, Appoints Kingsley Achife As Interim MD

    8506 shares
    Share 3402 Tweet 2127
  • BREAKING: Oyo Assembly Directs CJ To Set Up Committee To Investigate Deputy Governor

    7606 shares
    Share 3042 Tweet 1902
  • Makinde Appoints Akinwande As Chairman Of Water Corporation

    7593 shares
    Share 3037 Tweet 1898
  • Oyo Lawmaker Denied Ticket By APC Joins PDP In Ogbomoso

    7520 shares
    Share 3008 Tweet 1880
  • Police Parade 3 Micra Drivers Over Alleged Killing Of Officer In Ibadan

    7606 shares
    Share 3042 Tweet 1902

Like Our Facebook Page

Like Our Facebook Page
">

Are YOU in distress? Call Oyo State Emergency Number NOW!!!

oyo State Emergency Number

Follow Us On Twitter

My Tweets

Support Us To Push Further

Join Our WhatsApp Group

">
  • Home
  • General News
  • Political News
  • Oyo Campus Gist
  • Entertainment
  • Special Reports
  • Jobs
  • To Advertise
  • Support Us Today

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • Home
  • General News
  • Political News
  • Oyo Campus Gist
  • Entertainment
  • Special Reports
    • Opinion
    • Interview
  • Jobs
  • To Advertise
  • Support Us Today
    • Submit A Story

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
%d bloggers like this: