Platform Capital founder, Dr. Akintoye Akindele, who has been in police custody for about 3 weeks, was charged before the High Court of the FCT, Abuja on Friday, August 18, 2023.
Akindele, 49, was charged for offering a N150million bribe to the police investigative team working on a petition submitted to the Inspector General of Police (Force Intelligence Bureau) by Summit Oil International Limited on alleged criminal conspiracy, criminal diversion of funds and theft running into millions both in US dollars and Naira.
He is alleged to have made an initial payment of N50million out of the N150m he offered to facilitate his escape from custody and to enable him flee abroad. This bribery charge against Akindele may have validated his continued detention until investigations are concluded. Sources confirmed that the N50m was paid from an account named ‘Duport Midstream Company Limited’. Yet, it has emerged that other directors and shareholders had no knowledge of the existence of this account. These disturbing developments further buttress the separate petition on Embezzlement of over $25 million dollars brought against Akindele by concerned shareholders.
Akindele is expected to be arraigned on the charges in court in Abuja next week. On a related note, social media has been awash with multiple allegations of fraud against Akindele by persons who have dealt with him over the last 20 years. Alleged victims of Akindele’s fraud who have come out bravely to tell their stories in graphic details range from a celebrity music producer, to an award-winning chef, former employees and other unsuspecting Nigerians who apparently invested in Akindele’s financial products. More revelations seem to be on the way.
Yet, Akindele keeps digging in, even though he admitted to the criminal diversion of funds belonging to Summit Oil but cannot account for same. Rather than address the allegations of fraud, Akindele continues to try to divert attention from the key issues of fraud with publications and social media blitz, apparently in the belief that he can drown out the bad news. It appears Akindele is also keeping his lawyers very busy with billions of Naira defamation cases against the more vocal complainants including the shareholders of Duport Midstream and the veteran rapper Eldee, perhaps hoping to discourage others from speaking up.
However, combing through media feeds, it is clear that Nigerians are asking very pointed questions, suggesting that this tactic is failing. Akindele confessed to diversion of Summit Oil’s funds – should the fact that he is a celebrity businessman prevent the Police from investigating and persecuting this crime as per the laws of the land? Dr Toye Akindele claims his Platform Capital owns 74% of Duport Midstream which other shareholders are challenging as false in court – does majority shareholding give someone the right to defraud a business and the other shareholders including the Nigerian Content Development and Monitoring Board which is an agency of the Nigerian Government? Akindele lives a lavish lifestyle and claims to have invested millions of dollars in start-ups in the US and across the world – what is the source of these funds if not the alleged diversion and theft? It is also instructive that fraud is a bailable offense in Nigeria and Akindele was apparently provided standard bail terms over 2 weeks ago but he is yet to meet the bail conditions.
Given the developments in this case, it appears we are indeed witnessing a New Dawn in law enforcement signalled by the newly appointed acting Inspector General of Police, Kayode Egbetokun. This is sending rays of hope to Nigerians who are keen to see the criminal Justice system properly applied without fair or favour.
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