The CEO of Emy Cargo and Shipping Services Limited, Emeka Okonkwo, commonly known as E-Money, is currently under investigation by the Force Criminal Investigation Department Annex, Alagbon. This investigation stems from an alleged dispute involving N1,209,200,000 with Autocorp Limited, a vehicle dealing company based in Lagos State.
A police source, speaking anonymously, disclosed that Okonkwo and the aggrieved party have been summoned for questioning, with further meetings scheduled to delve into the case.
The controversy revolves around a transaction in which Autocorp Limited contracted Okonkwo to clear eight vehicles, including six TXL Prado and two Lexus jeeps, valued at N1.2 billion between 2020 and 2021. Despite Okonkwo supposedly clearing the vehicles, Autocorp Limited claims they have not received delivery.
According to Patricia Iduwre, the sales manager of Autocorp Limited, Okonkwo allegedly admitted to selling the vehicles, citing owed payments as justification, which Autocorp disputes.
Raymond Olaiya, the legal representative of Autocorp Limited, described the dispute as involving allegations of stealing, fraudulent conversion, and criminal sale in a petition submitted to the FCID.
In response, Okonkwo denied the allegations, asserting that a business transaction did occur between both parties. However, he deferred detailed discussion until a later date.
Aminat Mayegun, the spokesperson for the FCID Annex, Alagbon, confirmed the ongoing investigation, stating that both parties have been summoned for further discussions.
The case remains under investigation as authorities seek to unravel the truth behind the N1.2 billion dispute.
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