Nigerian music executive Efe Ogbeni has been sued for his involvement in fraud in the United States of America.
The renowned music executive has been dragged before a United States District Court of Western Tennessee by Prime Reality Ventures LLC, a Venture Capital Company in the US, for allegedly defrauding the company and its principal to the tune of $250,000.
The music executive was sued, alongside Olayinka Odunlami and Nelly Wambugu, for obtaining money under false pretenses.
According to the court documents, the trio came up with a fake investment opportunity in the oil and gas industry.
They approached Prime Reality Ventures LLC with the investment opportunity, knowing fully well it was fake.
Part of the document read;
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.
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 then sent some part of the money to Ogbeni which was meant to purchase equity in the fake oil and gas company.
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.
Also, 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.
The matter has since been reported to the Economic and Financial Crimes Commission (EFCC).