The Group Managing Director (GMD) of foremost outdoor advertising company, Afromedia Plc, Mr. Akinlola Irewunmi Olapade today, testified before an Igbosere High Court of Lagos State, how his company was allegedly defrauded of millions of United State of American’s Dollar and other currencies by one Alhaji Mohammed Gobir.

Gobir, a kwara State born millionaire and former non-executive director and chairman of Business Development Committee of Afromedia Plc, is accused of fraudulently obtaining about N1.4 billion.

Gobir is facing a 17-count charge bordering on obtaining money under false pretence, stealing, fraud, use of forged documents, and possession.

He is being arraigned before the court by the Economic and Financial Crimes Commission (EFCC).

Olapade while being led in evidence by the EFCC lawyer, Mr. A.B.C. Ozioko said Gobiri allegedly defrauded the advertising company through a phony investment deal.

Narrating the company’s ordeal in the hand of Gobiri, the witness said the defendant was allegedly introduced to Afromedia sometime in 2008 by their Private Placement Consultants, Synergy Capital Advisory Limited, as a high net-worth investor who was willing to inject N1 billion into the company through the acquisition of shares.

Based on the touted pedigree of Gobir as potential investor, he later became chairman of the Business Development Committee of the board of directors of the company.

Afromedia Chief Executive Officer informed the court that the defendant allegedly used the position to defraud the company.

According to him: “having earn the trust of the company owners, Gobir started demanding large sum of money which he termed as business expenses to international consultants, Royal Exchange Bureau, in the United Kingdom in order to facilitate and secure investments from a United Kingdom-based bank.

“The company gave Gobir the sum of $1,000,000 in cash and also paid for his travel expenses on a first class return ticket to UK where he would meet with the purported investors, which investigation later revealed never existed nor were the meetings ever held”.

Olopade further informed the court, how Gobiri confessed to the company that his money ( $250,000,000) had earlier been seized by the British authorities over allegations of money laundering, and that he was currently financially handicapped and needed a bailout in the sum of $3,817,000 to get the European Union Money Laundering Waiver Certificate.

The testimony of the witness continue tomorrow.http://thestreetreporters.com/?p=5569