Babatunde Ogunleye sometimes back vied for All Progressive
Congress (then Action Congress before its merger with other opposition parties)
chairmanship candidacy in a local government election in Osun State where he
suffered defeat.
Then, Babog and her sister companies, Thriller Endeavours,
Bag-Eros and Bately World swindled banks by forging contract award documents, C
of O and invoices pictured below ) and
using it to obtain loans, which they failed to repay.
Oguleye had attempted life, lived for spectacle, dash and
flash. However, the owner of Babog Investment international limited, a phony
investment company that in 2011, duped 16 banks and several unsuspecting
Nigerians of over N3billion in a monumental loan tripping, forgery and
operation of an illegal wonder bank has currently procured for himself great
grief.
With several offices across Lagos and the one at 3, Obafemi
Awolowo Way, ikeja, as the headquarters, the Babog Group is a house of fraud
where contract award documents, and invoices from blue-chip companies as well
as property certificates of occupancy are forged and forwarded to banks,
requesting for loan facilities to execute phony contracts.doc 1 doc 3
At one time or another, invented contract award letters from
Dangote Pasta Limited, John Holt, PZ Industries, Ragolis Water among others
requesting Babog or her sister companies to render one service were used to
defraud banks.
The collateral for these loans took the shape of the
contract award letters. Despite the fact that they were all cloned, most of the
banks granted the company’s requests. At the last count, 16 banks availed them
of about N22 million loan with the least loan from a bank running into N22
million. Sterling Bank, Stanbic IBTC, Diamond Bank, Wema Bank, UBA Bank were
some of the banks that fell victims.
It was gathered that apart from banks, some micro-finance
houses were also victims of the financial crime of the company, and its
subsidiaries, which the representative of Ikorodu Federal Constituency in the
House of Representatives, Hon. Abike Dabiri-Erewa, first cousin, Lukmon
Erogbogbo and others sit as directors ( company letter-head, which has Hon.
Dabiri’s name on it pictured right).doc 5
One of such victims is Cash Link, which was swindled out of
several millions of naira through fraudulent motor lease. In fact, the
company’s managing director, Ogunleye was later arrested at the request of Cash
Link and detained at the Police Command Zone 2 at Obalende in Eti-Osa Local Government
Area of Lagos.
After he was released, he was picked up by operatives from
Force Headquarter (Alagbon), detained and interrogated for several months following another round of multiple fraud
charges.
Investigation by source revealed that Ogunleye’s entire
world was recently turned upside down as he was allegedly shot by the police
in his home at Ikorodu (near General
Hospital) in Lagos-East.
The genesis of his crisis was that he duped an Oil Marketer
at Maryland Area (name withheld) of about N32,000000 (thirty-two Million Naira)
worth of petroleum products. The oil marketer had believed his claim that he
owned a petrol station in Ibadan and needed
ten trailers load of fuel, which he would deferred the payment.
Ogunleye’s request was granted. However, he sold it on the
black-market, and fled the country to Ghana with the money before Interpol
finally caught up with him some months later, and returned him to Nigeria. He was detained at Alagbon and released on
bail after he promised to redeem his early pledge to the oil marketer.
Our source was told that after repeated default in debt
payment schedule, it was alleged that operatives from Alagbon went to search
for him in his Ikorodu House. On sighting the police, it was said that Ogunleye
attempted to jump his fence and bolt away but
he was shot in his leg.
It was further gathered that his leg was badly damaged and
after several months in hospital it was amputated. It was said that Ogunleye
has learnt few lessons from the mess as he has become a born-again Christian
after he finds himself confined to his house with one leg.
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