FRAUD: Nigeria’s music executive, Efe Ogbeni sued for alleged fraud in US

Nigerian Music Executive Mr Efe Ogbeni has been dragged before a United States District Court of Western Tennessee by Prime Reality Ventures LLC a Venture Capital Company in the USA for allegedly defrauding the Company and its Principal to the tune of $250,000.

The defendants, Onefeme Ogbeni, Olayinka Odunlami and Nelly Wambugu are allegedly facing numerous charges on conspiracy of obtaining money by false pretences.

According to the court documents sighted by our reporter, Onefeme Ogbeni alongside two others committed the crime between July 2021 and September 2021 in the United States of America.

According to the Prime Reality Ventures (The Company), the suspected fraudsters intentionally and under false pretence presented 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 organization and it’s owners about investing in the African Oil and Gas market.

Efe Ogbeni and his co-defendants allegedly presented themselves falsely as being vast and having the requisite skill and expertise and contacts in and outside of Africa. Interested to diversify their investment portfolio, the Company arranged meetings between the Plaintiff and the defendants.

Along the line, the defendants as alleged, 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 allegedly 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 other is asking for a damage 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 case has been referred to the Economic and Financial Crimes Commission in Nigeria for further action.