Directors seek EFCC probe of money laundering, shares manipulation

Directors seek EFCC probe of money laundering, shares manipulation

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The directors of a company, Dreamworld Leisures Limited, have asked the Economic and Financial Crimes Commission to investigate allegations of shares manipulation and financial infractions it levelled against the firm’s management.

The board accused the anti-graft agency of failing to probe the allegations contained in a petition submitted to the EFCC since 2019.

In a statement on Sunday, the board chairman, Mr Wale Mesioye, expressed concern that the commission did not act on the petition submitted to it by the board but chose to expedite action on the petition filed by the management team.

Mesioye, who represents Fidelity Bank Plc on the board of Dreamworld, explained that the board’s petition detailed weighty infractions against the management.

The board said it had, in its petition to the EFCC, intimated it of the alleged infractions of the managing director, including forgery of several board resolutions, unapproved sales of the landed property of the company, diversion, unilaterally approving expenditures and projects without recourse to the board, frustrating efforts of the board to conduct forensic audits of his stewardship, among others.

The statement titled, ‘Putting the record straight: The story relating to EFCC petitions and court case,’ read, “When confronted with these (allegations), the MD was remorseful and tendered a letter of apology to the board.

“However, owing to the gravity of the offences, the MD’s appointment as was terminated by the board in November of 2019. The board consequently wrote a petition to EFCC, highlighting all the aforementioned infractions, but unfortunately, the petition did not receive any diligent investigation and prosecution.

“Surprisingly, the MD and family submitted a petition to EFCC in 2021 and such was given accelerated investigation to the extent that the majority of the board members were arraigned in court over unfounded allegations of conspiracy and forgery of company documents at Corporate Affairs Commission.”

Mesioye admonished the EFCC to desist from the media trial of the board members and investigate both the board and management of Dreamworld.

The EFCC spokesman, Mr Wilson Uwujaren, said he had no information on the status of the board’s petition.

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