N36m Fraud: Suspected fake cocoa farmer to face trial

Story by Okafor Vivian 

The Ondo State Police Command has announced plans to arraign a man identified as Ilegbami Jacob for allegedly posing as a cocoa farmer to obtain N36 million from one Sunday Adegboyo, under the pretext of supplying 5.5 tons of cocoa beans.

The command’s spokesperson, Olayinka Ayanlade, revealed this in a statement issued on Thursday. According to him, the suspect was arrested after the victim filed a petition reporting that Jacob had failed to fulfil their business agreement.

READ ALSO: Man arrested after attempting to grope and kiss Mexico’s first female President

Police operatives subsequently tracked Jacob to a hideout in Akure, the state capital, where he was apprehended.

Ayanlade explained that investigations showed that in July 2025, Jacob allegedly convinced the complainant to enter a business arrangement, falsely claiming to be a cocoa merchant. He reportedly collected N36 million with a promise to supply 5.56 tons of cocoa beans, but never delivered and later fled, claiming the goods would come from Taraba State.

The arrest was made possible through the efforts of the command’s Scorpion Squad, who used technological tools to trace the suspect.

The police stated that Jacob will be charged in court once investigations are completed. The Commissioner of Police, CP Adebowale Lawal, reaffirmed the command’s commitment to tackling fraud and protecting legitimate business activities in the state.

READ ALSO: CBN launches compliance department to strengthen fight against financial crime

He also urged business owners and investors to always verify the identity and credibility of potential partners before entering major financial deals, emphasizing that vigilance is crucial in preventing fraud.

In a related development, a Lagos Special Offences Court in Ikeja earlier ordered the remand of a businessman, Moruf Gbadamosi, for allegedly obtaining over N23 million under false pretence. Justice Olubunmi Abike-Fadipe ordered his remand after he was arraigned alongside his company, Greenbil Mega Ocean Limited, by the Economic and Financial Crimes Commission.

Follow the Neptune Prime channel on WhatsApp:

Do you have breaking news, interview request, opinion, suggestion, or want your event covered? Email us at neptuneprime2233@gmail.com