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Posted By Admin On November 14th, 2025

Ondo State Police Command has announced plans to arraign a suspect, Ilegbami Jacob, for allegedly impersonating a cocoa merchant and defrauding a businessman, Sunday Adegboyo, of N36 million under the pretext of supplying 5.5 tons of cocoa beans.

The Command’s spokesperson, Olayinka Ayanlade, confirmed the development in a statement issued on Thursday.

According to Ayanlade, the suspect was arrested after the victim petitioned the police, alleging that Jacob failed to deliver the cocoa beans as agreed and subsequently went into hiding.

“Investigations revealed that in July 2025, the complainant entered into a business arrangement with the suspect, who deceitfully claimed to be a cocoa dealer.

“Under this false identity, he received N36 million with the promise of supplying 5.56 tons of cocoa beans. He never delivered the goods and later absconded, repeatedly giving misleading assurances that the consignment would be shipped from Taraba State,” Ayanlade said.

He explained that operatives of the Command’s Scorpion Squad eventually tracked Jacob to a hideout in Akure, where he was apprehended.

Ayanlade noted that the suspect remains in custody and will be charged in court once investigations are completed.

He added that the Commissioner of Police, CP Adebowale Lawal, while acknowledging the Inspector General of Police for his support, reaffirmed the Command’s resolve to dismantle fraud networks and protect investors across the state.

The police also advised business owners and investors to conduct thorough background checks on potential partners before engaging in major financial transactions, emphasising that due diligence is crucial in preventing fraud.

Source: https://dailypost.ng/2025/11/14/ondo-police-arrest-man-for-allegedly-defrauding-businessman-of-n36m-in-cocoa-deal/