The Managing Director of Sapphire Scents Limited, Adewale Aladejana has been arraigned by the Economic and Financial Crimes Commission, EFCC.
Wale Jana was arraigned before Justice M. A Madugu of the Federal High Court sitting in Bwari, Abuja, for obtaining money under pretense to the tune of N12,000,000 (Twelve Million Naira only).
Wale Jana was arraigned on three-count charges bordering on misappropriation and obtaining under false pretense.
NigeriaCrime.com learned that Wale Jana allegedly collected the sum of N12 million from potential investors in his company, with a promise of turnover in six months, without offering any profit or returning the invested funds to his investors.
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Last year, several investors and distributors called him out on social media for not giving them the returns on their investments and some also accused him of withholding their capital.
It will be recalled that in 2021 Wale Jana, the Chief Executive Officer of Sapphire Scent lost properties worth millions of naira to people who invaded his Lekki office.
No fewer than 10 men in the company of three Policemen invaded his office. They took away some valuables and perfume displayed for sale. Those who made away with his properties were investors who were yet to get their return on investment and capital from his investment scheme.
The controversial businessman is reportedly broke and he has not been able to redeem the pledge he made last year to refund all the money invested in his business to the investors.