How MLM company defrauded investor N3m in Lagos



An investor, Darlington Agomuo on Wednesday told an Ikeja High Court how he was allegedly defrauded of about N3.430m by a  Multi Level Marketing (MLM) company, Convent Options Limited.




Agoumo said he was coerced to register 75 people with N20,000 each.


According to him, though he was skeptical about joining the multi level marketing company at first,  he was introduced to the company by one Daniel Inyang, who convinced him that the company was real.


“I was skeptical at first, but the Managing Director of the company, Chibogum Benson Oraelosi convinced me that her company is genuine and that they have partners abroad.


“She explained to me how the MLM works, convincing me that after I register with N20,000, I would have to bring three more people who are also expected to bring more people. She further convinced me that I would get a certain percentage from all the people that register under me.




But after registering about 75 people, Agoumo told the court that to his surprise, Oraelosi refused to give him his commission.


“She became evasive and started avoiding all of us. Efforts to reach out to her proved abortive. It even got to a point that she stationed two mobile policemen in front of her office, who in turn harrased and intimidated us.


” After efforts to get my money became abortive, hence, I wrote a petition to the SCID, where she was invited. The former Inspector General of Police, Solomon Arase even ordered her to pay up, but she refused.


Agoumo added that Oraelesi even lied to them that she would be printing recharge cards as part of the business after she had collected N10,000 from them for the purchase of the so called recharge cards.


“She even went as far as telling us that Azsa Micro Finance Bank with office in Isolo would help source for funds to finance the business. We even had meetings with the MD of the bank,” he said.


The matter was reported to the Economic and Financial Crimes Commission where Oraelosi was arrested in her hideout in Lekki after she had been summoned by the Commission 24 times.


Oraelosi is facing a five count charge which includes; conspiracy to commit fraud and giving false information to the EFCC claiming to have political appointment with the Imo State Government.


She however pleaded not guilty to all the charges.


The presiding Judge, Justice Hakeem Oshodi consequently adjourned the matter to January 17, 2017 for continuation of trial.


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