Fraudulent crude oil deal lands two in police custody

The Chief Executive Officer of Davidson Oil Field Service (name withheld) has been allegedly duped of N25 million.
The victim, in a petition to the Commissioner of Police, Special Fraud Unit, Ikoyi, Lagos State, dated November 5, 2012, accused Stephen Ameh and Emmanuel Owiocho, said to be crude oil dealers, of fraudulently obtaining N25 million from him.
It was gathered that on May 14, 2012, Ameh, who worked for the complainant as his Operations Manager, introduced Owiocho and one Akin Solomon to the Davidson Oil Field boss as authorized Nigerian National Petroleum Corporation crude oil dealers.
The complainant paid Owoicho and Solomon N25 million in two installments for crude purchase.
The money was paid into an Escrow account belonging to Owiocho.
After waiting for more than six months without getting delivery of his crude oil, the complainant became apprehensive and suspicious that he has been duped and reported the matter to the police.
The CP of the SFU, Tunde Ogunsakin, while parading the two suspects on Friday, revealed that crude oil fraud is rampant in the country.
Owiocho is said to be the Managing Director of Owoema Resources Limited and the alleged mastermind of the fraud.
Reacting to the allegation, the suspects denied duping the complainant.
They claimed that the deal would have succeeded if the complainant was patient.
Ogunsakin advised members of the public to carry out thorough investigations of their business partners before engaging in any transaction.
He said: “Our investigation reveals that Owoicho had made several withdrawals from his accounts after he received the money.
“We are investigating several Nigerian National Petroleum Corporation documents recovered from him.
“The suspects would be charged to court after we are through with our investigation.”