EFCC nabs music label boss, the reason will make you wonder

By Henry Ojelu

The Economic and Financial Crimes Commission, EFCC, yesterday, arraigned the Chief Executive Officer of Canbit Music, Olusegun Ake, before an Ikeja High Court, Lagos, for allegedly defrauding an American company, Renovate America Incorporated.

EFCC alleged that Ake defrauded the company through a new type of phishing called Ijobak, which lures human resources, accounting and payroll staff of a company to disclose vital details of all the employees in the company.

EFCC operatives

Ake, who is also the owner of Canbit Resources (Nig.) Limited, Istartup Enterprise and Volta Company, was alleged to have impersonated the CEO of Renovate, Steven Bannett, hacked into the company system, stole vital information often referred to as W-2s and sold same to the ‘dark world’.

The defendant was also alleged to have received 790 W-2s from the staff of the company, which he sold to some anonymous buyers in the ‘dark world’.

The commission further alleged that the defendant printed some American bank cheques, which he presented as evidence of payment to his victims online.

Part of the charge brought against him read: “That you, Olusegun Ake, sometime in January 2017 in Lagos, within the Ikeja Judicial Division with intent to defraud obtained “Data” (W2 FORMS) from Renovate America Incorporated by falsely representing yourself as the Chief Executive Officer of Renovate America Incorpora-ted, which representations you knew to be false.”

The offence, according to EFCC, is contrary to Sections 6, 8 (b) and 1 (3) of the Advance Fee Fraud and Other Related Offences Act, No. 14 of 2006.

The defendant pleaded not guilty to the charge.

He was remanded in prison, following a submission by EFCC counsel, Babatunde Sonaiki, that the defendant and the commission were engaged in discussion for plea bargain.

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