By Blessing Udeobasi
Nigerian music executive Efe Ogbeni hqs been sued before a United States District Court, Western Tennessee for allegedly defrauding a company and its Principal to the tune of $250,000.
Efe was sued by Prime Reality Ventures LLC, a Venture Capital Company in the US alongside Olayinka Odunlami and Nelly Wambugu for obtaining money under false pretences.
According to the court documents, the trio came up with a fake investment opportunity in the oil and gas industry and approached Prime Reality Ventures LLC with the investment opportunity knowing fully well it was fake.
“Efe Ogbeni and his co-defendants falsely presented themselves as being versed and having the requisite skill and expertise and contacts in and outside of Africa,” part of the document read.
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“Interested to diversify their investment portfolio, the company arranged meetings between the plaintiff and the defendants. Along the line, the defendants 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.”
