Adebola Asiwaju, 70, is currently being interrogated by the EFCC for attempting to fraudulently sell shares worth N42million belonging to one Olalere Sunday Oladosu.
Adebola is alleged to be a member of a syndicate who specialises in fraudulently selling unsuspecting investors shares.
Spokesperson for the EFCC, Wilson Uwajaren, said the suspect forged documents and opened an account with the assumed name of ''Olalere Sunday Oladosu'' with a new generation bank.
Adebola Asiwaju
The suspect then instructed Marina Securities to dispose of 1.7million units of the said shares valued at N42million and remit the proceeds into the new account he had opened with the new generation bank.
The scam was however discovered when routine checks by the Marina Securities discovered discrepancies in the documents he presented and those presented by the actual owner of the said shares.
During investigation, it was discovered that Adebola Asiwaju had also used the names Babajide Odunso and Chief Bolaji Carew in fraudulent share sales.
The Commission said the suspect's accomplice are still at large but that he will be arraign as soon as they conclude their investigations.
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