Serial Fraud Suspect Seun Ogunbambo Says He’s Now Repaying Fraudulently Obtained N1.2Billion Bank Loan

Seun Ogunbambo
By SaharaReporters, New York

Seun Ogunbambo, an indicted subsidy fraud suspect who is also alleged to have fraudulently obtained a large loan of N1.2billion from Stambic IBTC in 2009 using forged documents, told a court today that he has begun repaying the loan.

At the trial today, Mr. Ogunbambo’s counsel complained of his poor health that might have made him miss the hearing, but that he showed up with enthusiasm to inform the court that his client had begun to repay the sum.

On two prior occasions, before Justices Adeniyi Onigbanjo and Olabisi Akinlade, Mr. Ogunbambo had been denied bail on the ground of his hefty criminal demeanors while others arraigned alongside with him had their bail applications granted.

Apart from his alleged involvement in the perpetration of fraud in the subsidy fund scheme and fraudulently obtaining the Stambic IBTC Bank loan, Mr. Ogunbambo was also accused of using multiple identities and illegal possession of two international passports.

According to the Economic and Financial Crimes Commission (EFCC), Mr. Ogunbambo obtained the passports with different names but the same photo.  Both were presented before the court to substantiate the commission’s insistence that Mr. Ogunbambo is a serial fraudster who does not merit the benefit of bail. The anti-graft agency said it seized the suspect’s international passport not knowing he possessed another, but he was then found to be traveling with another passport while still on trial.

The suspect’s counsel, Mr. Adebayo Adenipekun, did not deny the allegations while he pleaded the bail application in court.

In January 2010, the Embassy of Republic of Ireland notified the EFCC of Mr. Ogunbambo’s arrest for money laundering.

In the current trial, Mr. Ogunbambo is arraigned alongside his company, Adeline Investment Limited, on charges of fraudulently obtaining a credit facility of over N1.2bn from Stanbic IBTC Bank Plc in 2009.

Presiding judge Akinlade directed that at every step of the way as Mr. Seun repays the fraudulently obtained loan as claimed by his counsel, Mr. Adenipekun, he must acquaint the prosecuting EFCC of the developments.

The judge adjourned the case until 14th February, 2013.

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@akpo1

Why are you displaying stupidity on the pages of newspaper? Oandoaka a Yoruba man? This shows you are living up to your name - Dundee united and son of a whore. Wake up and know that your republic of SS & SE does not have the capability to survive for a day without the contributions of the Yoruba. You should be thankful to OBJ who gave your Dumbo the office of the President. We are counting days and years...nothing to show for occupying the Presidency.

Serial Fraud

Any investigation and trial without involving top bank officials is an exercise in futility. Banks are supposed to inform EFCC, NDLEA on deposits or withdrawals above 3m for corporate bodies and 500,000k for individuals but they don't heed the directive. Bank officials connive with with the depositors for a commission otherwise why are all these scams and funds transfer going on undetected or unreported .
For the war against corruption to be won, bank officials must be charged along and jailed. The Judiciary must assist by disposing the cases very quickly thereby avoiding several adjournments making it look like the administration is not fighting corruption.
The law enforcement officials should expedite their investigation without bungling the whole thing. If they compile their case files very quickly and correctly, the judges will equally do their job.

AKPOS, SON OF A PROSTITUE

Akpos, I understand that your name is another word for "son of a prostitute, ofspring of a bandit"! Yet, you dream everyday of how good it would have been if you were born a Yoruba man. Sorry, pig, it takes a noble birth to be Yoruba. Eranko!

THE MONEY (FUND) IS SITTING IN OTHER BANKS !

He is drawing the funds from where he stashed it in another Bank and in laundered form abroad. Squeezed he will bring out the funds. The Bank should not agree to any ridiculous settlement terms. The fund is intact with the rogue. They should investigate other companies registered in all his known names and those of his close kin from Corporate Affairs Commission or any other entities where he has interest. When the veil of incorporation is lifted, they would find where he is hiding.
Instruments used in all settlements should be traced to source. Authority would discover he has every of the funds intact in some other institutions. The assignment could be completed in three weeks by any serious investigator.

@MUKAILA - I get your point

I get your meaning, that he should ALSO be tried for FORGERY and OBTAINING A NIGERIAN PASSPORT BY FALSE PRETENCES. I can also sniff the crime of PERJURY (ie LYING UNDER OATH).

Did I mention PERJURY? That reminds me of a suspended Justice, whose name reminds me of a sausage!

Pay the price as well!

It's not good enough to simply pay back, but do the crime and do the time too! That is JUSTICE!

Money

Money! We have seen how in this country the record setters in frauds running into millions and billions of Naira through banks and governments are 60% Oodua sons and daughters starting from their great-grandfathers, grandfathers, fathers and patrons as already listed by others that knows the truth and not covering it. Their names are endless and people will say that only the Igbo man likes money, but time again and again having been proving the hypothesis wrong. We know the fraudsters in this country, their cunning, deceptions and media control not withstanding are the YORUBAS.

BENJAMIN OLUSOLA ADEYANJU & COCOA BOYS TOO!

The art of taking loans from one bank and warehousing it in another has been long in Nigeria. That was what brought down the defunct AFRICAN INTERNATIONAL BANK LIMITED. The Ikeja Cocoa boys just overran that bank and took the funds to other Banks with impunity. The Ebun boys, the Owofemis, The Ayodeles and late Kolade Ajayi on one side and BENJAMIN OLUSOLA ADEYANJU. All escaped 300 MILLION without punishment till date.
More nefarious is MIKE ASABARO of KENTURE VENTURES and OBEDAFE HOLDINGS who swindled AFRICAN INTERNATIONAL BANK LTD of 280 Million Naira in collusion with ADEBISI DODO-AGORO. They are free men and woman on Nigeria streets today without one sentence or indictment. Yet peoples funds are trapped. Nigeria awake!!! OGUNBAMBO IS PLAYING THE SAME GAME O.
EFCC SHOULD REVISIT THIS MATTER WHOSE RECORDS IS WITH THE POLICE WHICH BURIED IT.

BENJAMIN OLUSOLA ADEYANJU & COCOA BOYS TOO!

The art of taking loans from one bank and warehousing it in another has been long in Nigeria. That was what brought down the defunct AFRICAN INTERNATIONAL BANK LIMITED. The Ikeja Cocoa boys just overran that bank and took the funds to other Banks with impunity. The Ebun boys, the Owofemis, The Ayodeles and late Kolade Ajayi on one side and BENJAMIN OLUSOLA ADEYANJU. All escaped 300 MILLION without punishment till date.
More nefarious is MIKE ASABARO of KENTURE VENTURES and OBEDAFE HOLDINGS who swindled AFRICAN INTERNATIONAL BANK LTD of 280 Million Naira in collusion with ADEBISI DODO-AGORO. They are free men and woman on Nigeria streets today without one sentence or indictment. Yet peoples funds are trapped. Nigeria awake!!! OGUNBAMBO IS PLAYING THE SAME GAME O.
EFCC SHOULD REVISIT THIS MATTER WHOSE RECORDS IS WITH THE POLICE WHICH BURIED IT.

ADEBISI DODO-AGORO & MIKE ASABARO & OTHERS TOO!

The art of taking loans from one bank and warehousing it in another has been long in Nigeria. That was what brought down the defunct AFRICAN INTERNATIONAL BANK LIMITED. The Ikeja Cocoa boys just overran that bank and took the funds to other Banks with impunity. The Ebun boys, the Owofemis, The Ayodeles and late Kolade Ajayi on one side and BENJAMIN OLUSOLA ADEYANJU. All escaped 300 MILLION without punishment till date.
More nefarious is MIKE ASABARO of KENTURE VENTURES and OBEDAFE HOLDINGS who swindled AFRICAN INTERNATIONAL BANK LTD of 280 Million Naira in collusion with ADEBISI DODO-AGORO. They are free men and woman on Nigeria streets today without one sentence or indictment. Yet peoples funds are trapped. Nigeria awake!!! OGUNBAMBO IS PLAYING THE SAME GAME O.
EFCC SHOULD REVISIT THIS MATTER WHOSE RECORDS IS WITH THE POLICE WHICH BURIED IT.

ADEBISI DODO-AGORO & MIKE ASABARO & OTHERS TOO!

The art of taking loans from one bank and warehousing it in another has been long in Nigeria. That was what brought down the defunct AFRICAN INTERNATIONAL BANK LIMITED. The Ikeja Cocoa boys just overran that bank and took the funds to other Banks with impunity. The Ebun boys, the Owofemis, The Ayodeles and late Kolade Ajayi on one side and BENJAMIN OLUSOLA ADEYANJU. All escaped 300 MILLION without punishment till date.
More nefarious is MIKE ASABARO of KENTURE VENTURES and OBEDAFE HOLDINGS who swindled AFRICAN INTERNATIONAL BANK LTD of 280 Million Naira in collusion with ADEBISI DODO-AGORO. They are free men and woman on Nigeria streets today without one sentence or indictment. Yet peoples funds are trapped. Nigeria awake!!! OGUNBAMBO IS PLAYING THE SAME GAME O.
EFCC SHOULD REVISIT THIS MATTER WHOSE RECORDS IS WITH THE POLICE WHICH BURIED IT.

ADEBISI DODO-AGORO & MIKE ASABARO & OTHERS TOO!

The art of taking loans from one bank and warehousing it in another has been long in Nigeria. That was what brought down the defunct AFRICAN INTERNATIONAL BANK LIMITED. The Ikeja Cocoa boys just overran that bank and took the funds to other Banks with impunity. The Ebun boys, the Owofemis, The Ayodeles and late Kolade Ajayi on one side and BENJAMIN OLUSOLA ADEYANJU. All escaped 300 MILLION without punishment till date.
More nefarious is MIKE ASABARO of KENTURE VENTURES and OBEDAFE HOLDINGS who swindled AFRICAN INTERNATIONAL BANK LTD of 280 Million Naira in collusion with ADEBISI DODO-AGORO. They are free men and woman on Nigeria streets today without one sentence or indictment. Yet peoples funds are trapped. Nigeria awake!!! OGUNBAMBO IS PLAYING THE SAME GAME O.

Yoruba - Cowards & fraud stars for life

Yorubas are unrepentant fraudsters. I have said it before on this forum that the Oduduwa descendants will require 7,500 days hot prayers & fasting on Mount Kilmanjaro & another 2,500 days on Mount Everest to get delivered.

From MKO to adenuga to Babalakin to Tinubu(Wale&Bola) to Erasmus Akingbola to Oandoaka to Otedola to Ogunbanbo etc...the list is endless.

Theirs is an incurable blight. It runs in their veins. Remember the head office of forgery otherwise known as "Oluwole". Even if you wash their heads with tortoise dung, they will steal the next minute. Can't u see how many Yorubas are in Boko Haram? Cowards.

Since the Fulani colonized them in Illorin, their lives have never been the same again.

Long live the United Republic of the SS&SE

YOU CAN STILL OBTAIN ANY PASSPORT IN NAIJA

Passport isstill very much cash and carry in Nigreria. Anybody interested can still very much obtain as many Passports as he/she likes. Its all money for hand, Passport as you want am.

INVESTIGATE THE ISSUEANCE OF THE TWO PASSPORTS .

I was a party to the introduction of the Nigerian e passport when it was introduced in 2007.It is not possible to obtain 2 passports because of the biometrics features enbedded in the passport. What must have happened is that he must reported that he lost his passport and later applied for a new one.But before a new one is issued he needs to produce a sworn court affidavit. If this true he obtained the passports fraudulently then the man is a big time crook.HE SHOULD ROT IN JAIL.

He is not the only one. Jimoh

He is not the only one. Jimoh Ibrahim was arraigned before the Federal High Court sitting in Lagos on a three count charge of forgery, falsification of bank documents and irregular signature with intent to defraud TNB in 2009. What is the outcome of that case till date. Abracadabra country...Selective application of justice. Stupid EFCC...An instrument of fraud.

He is not the only one. Jimoh

He is not the only one. Jimoh Ibrahim was arraigned before the Federal High Court sitting in Lagos on a three count charge of forgery, falsification of bank documents and irregular signature with intent to defraud TNB in 2009. What is the outcome of that case till date. Abracadabra country...Selective application of justice. Stupid EFCC...An instrument of fraud.

WHO IS FOOLING WHO?

Seun is paying back the money stolen. Good for him. I hope he pays back every kobo. I hope he is convicted and sentenced to long prison term. In Nigeria ke?? We shall see.

RE:Serial Fraud Suspect Repays Loan

I WISH TO HASTILY CRITICIZE THIS NEFARIOUS ATTITUDE OF THE SERIAL FRAUDSTER CALLED SEUN OGUNBAMBO.DOES HE OR HIS LEGAL COUNSEL HAVE ANY MORAL BURDEN FOR COMMITTING OR TRYING TO DEFEND CRIME AT ALL.ONE CAN ONLY HOPE HE DOES NOT GO SCOUT FREE THIS TIME AROUND.HOW CAN AN INDIVIDUAL BE IN POSSESSION OF TWO DIFFERENT INTERNATIONAL PASSPORTS IF NOT FOR THE INSANITY THAT PERVADE THIS GOD-FORSAKEN COUNTRY CALLED NIGERIA

crude oil iin d SS--but the revenue belongs to buhari & Tinub

These are the real owners of Nigeria. The rest of us from the oil producing enclaves of the SS, are just here as their escorts-And while the rogues milk us dry -them insult the sensibilities of our kids in the Niger Delta-with the aid of our penny a piece governors-animals

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