Breaking News
Translate

Man arrested for selling late oil chief’s shares

By Evelyn Usman, Ifunaya Okafor & Chioma Nwafor

LAGOS—A 46-year-old man has been arrested for impersonating the late Chief Executive Officer of ASCON Oil, Mr. George Enemuo, who died in the 2005 Bellview air crash with other 116 passengers on board the ill-fated aircraft.

The suspect, whom police identified as Mr. Ugochukwu Ernest, was discovered to have successfully sold  20,000 units of the deceased’s shares, valued over N2 million last year August, using a driver’s licence which had his photograph but bore the deceased’s names.

He was said to have been on the verge of selling another 10,000 units of same shares a fortnight ago when the stockbrokers became suspicious.

Stockbrokers at Hedge Securities, Lagos Island, were said to have carried out investigation on the impostor where they discovered that the address on the driver’s licence was fictitious. Further verification led to the discovery that the real owner of the shares was late, consequent upon which policemen at the Lion Building were contacted.

Parading the suspect yesterday, the Lagos State Command’s spokesman, Mr. Frank Mba, said the task before the police was to unravel the mystery surrounding how the suspect found the deceased oil magnet’s shares certificate.

Also arrested alongside Ugochukwu, was one of the managers of Hedges Securities following his alleged connivance and another deportee with whom the principal suspect lived.

The manager according to Mba, “ was brought here because he was the one who said he knew the man and further said they should pay him”

But on his part the manager, one Sakaowhan Azebahon said he followed  due procedure in the sales and payment.


Disclaimer

Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.