Majority Of Nigeria Music Producers Are Coded Yahoo Boys (See This)

A Nigerian music executive, Mr Efe Ogbeni has been dragged before a United States District Court of Western Tennessee.
He was sued by Prime Reality Ventures LLC, a Venture Capital Company in the US, for allegedly defrauding the company and its Principal to the tune of $250,000.

The defendants, Onefeme Ogbeni, Olayinka Odunlami and Nelly Wambugu are facing numerous charges on conspiracy of obtaining money by false pretences.

According to the court documents obtained, Ogbeni alongside two others committed the crime between July 2021 and September 2021 in the US.

Prime Reality Ventures (the Company), said the suspected fraudsters intentionally and under false pretences presented a dummy investment opportunity in the African oil and gas industry which turned out to be a sham.

According to the company, sometime in July 2021, the defendants approached the organisation and its owners about investing in the African oil and gas market.

“Efe Ogbeni and his co-defendants falsely presented themselves as being versed and having the requisite skill and expertise and contacts in and outside of Africa,” it said.

“Interested to diversify their investment portfolio, the company arranged meetings between the plaintiff and the defendants. Along the line, the defendants intentionally told Reality Ventures LLC and owners that there were other investors involved in the project and one of them is willing to sell his equity in the project.

“The Company was asked to wire the sum of $250,000 which will be used in purchasing the equity of Quantex Oil and Gas in the project. The Company was meant to believe that the valuation of Quantex Oil and Gas in the project is worth $10,000,000.

“Relying upon all the representations made by the defendants, on or about September 17, 2021, the plaintiff invested and wired the sum of $250,000 from their bank account at Patriot Bank in Tennessee to the defendants.

“Prime Reality Ventures LLC was asked to wire the fund to Stealth Management Inc, a company allegedly owned by the defendants claiming it had a binding agreement with Quantex Oil and Gas.

The plaintiff amongst others is asking for damages of $1m, the repayment of the initial $250,000 invested in the project as well as other costs and expenses of this litigation plus punitive damages,” the company said.

The case has also been referred to the Economic and Financial Crimes Commission in Nigeria for further action.

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Now you may be wondering why I said majority of Nigeria music producers are coded Yahoo boys.

For sure they are. Not just producers but artistes included. Some deal on hard drugs and other illicit deals.

I don’t want to mention names for some obvious reasons, but you know some of them already.

You may agree or disagree.

Majority Of Nigeria Music Producers Are Coded Yahoo Boys
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