Saturday, May 9, 2020

ANAYO NWOSU: Setting The Records Straight As More Facts Emerges .

By Jeff Ozigbo

As the case of dupe between Mr Anayo Nwosu , former staff of Bank PHB (now Keystone Bank) and Sir Daniel Chukwudozie, Chairman Dozzy Group lingers ,  more facts has been unearthed. Recently, there has been accusations and counter accusations from both parties, hence the need to dig deeper and find out what really transpired and how it all began. Below is the outcome of the investigation.

From the time  you Anayo Nwosu connived with your bank and Nulec to defraud Sir Daniel Chukwudozie of his hard earned 855m which  he refused to let you and your accomplices get away with  , your new found obsession has been to use different social media platforms to abuse, denigrate and attempt to drag the good name and prestige of the renowned industrialist , serial entrepreneur , philanthropist , and once your benefactor , to the mud where you dwell. But you have failed and woefully too.

The facts before the court on the basis of which ,you ,ANAYO NWOSU , your bank, Nulec and Jide  Oshodi and Ashok were  convicted and sentenced to 5 years in prison for stealing by conversion among others and ordered to restore what you stole from Sir Chukwudozie are briefly presented here :

1.Nulec owed your bank for many years and by the contract of the loan the same  was to be repaid in the ordinary course of business . Nulec was unable to pay neither interest nor any part of the principal and the account went  dormant while the management of your  bank became worried about the loan you inherited as account officer of Nulec.

2.You and your bank having realized Nulec no longer had the capacity to repay the loan convinced Nulec to be packaged by your bank for private placement so you can quietly repay the loan from proceed of private placement rather than from the normal course of business since that  no longer existed .

3. Your bank was subsequently appointed issuing house , standby under writer and financial adviser among others by Nulec.

4. To make the offer for private placement attractive to investors , you and your bank in packaging the financials of Nulec and other documents knowingly embellished  the true state of the financial health of Nulec .

This was done by showing false turnover of billions of Naira , non exiting stock of good worth nearly 2bn Naira ,fake debtors figure of hundreds of millions of Naira while grossly understating  the amount owed by Nulec . The package put together by you and your bank further represented that the amount owed your bank will not be repaid from private placement proceed and deceptively stated   that the offer was  underwritten by your bank so that any share not taken up by investors will be paid for by your bank which gave the impression that the company is good since a bank can guarantee to pay for its shares not bought by investors . But it was all lies, window dressing and premeditated scam.

5. The highly compromised instrument of the scam which was marketed by you to Sir Chukwudozie is the  private placement memorandum which was prepared by your bank as the issuing house  .This document you presented to Sir Chukwudozie  also pledged  that the proceed of the private placement  will be used to expand the production line of Nulec among others which information you knew to be false .

6. You , Anayo Nwosu thereafter came to Sir Chukwudozie and falsely told him what a wonderful company Nulec was and how robust  their account  has been and that as their account officer you know them very  well . Dozzy notedly  told you  he only used to hear about Nulec way back and that he is not interested in investing in the company because he does not hear much about them any longer . But you had the privileged information of a huge amount of money Sir Chukwudozie’s company  had in their account which he opened with your wife as account officer in order to  support her career .

• While Sir Chukwudozie was insisting on not investing , you, Anayo got your  wife to move the funds of Sir Chukwudozie to an account with you from which you paid for the shares without the prior authorization of Sir Chukwudozie .

You however  later came begging for a regulariztion of the payment  by Sir Chukwudozie with an assurance  that the investment was safe .

• In the end,as soon as the first payment of 285m was made by Sir Chukwudozie’s Company  you  and your bank used the same to pay off the loan owed your bank by Nulec which is a breach of the terms of the private placement .This act which exposed the only reason behind the  packaging of Nulec for private placement by your bank was not the only violation of the term of the private placement memo by your bank but also was the spending of monies while offer was on rather than keep the entire money in a separate account pending allotment of shares and many others breaches.

• Not only that ,you  and your bank started spending the proceeds of the private placement  by making several debits to Nulec account which account had no credit balance in years  until the money paid for the investment  was deposited by you into the trading accounts of Nulec instead of the private placement proceed account where your bank could  not have had access to the fund .

• You and Jide Oshodi benefited from the investment made by Sir Chukwudozie to the tune of 134m ,including accrued interest . Out of this amount,  only 110m was later paid back  once the bubble burst on you and your accomplices. Moreover ,  Nulec paid you and Jide Oshodi  19.5m as commission from the money paid by Dozzy and this amount is yet to be refunded. This is why the judge rightly held that You and Jide Oshodi were making money from both the buyer and seller .

◦ When the private placement was not fully subscribed, your bank declined to provide the shortfall thereby confirming  that the so called underwriting  was only meant to make the offer attractive to unsuspecting investors while you and your bank from the onset had your sight set to pay yourselves from the same .

◦ While the offer was on and as soon as your bank had fraudulently paid itself , Nulec was allowed to spend the money as it came in;including making overseas transfers and payment to other bank accounts  with you and your bank looking the other way .

◦ The so called current asset of Nulec worth billions of Naira reported in the documents packaged by your bank to raise the funds was discovered to be false . Till date, after 12 years,  not a dime has been realized from any sale of stock of raw materials or finished good which made up the phantom current asset because there was none in the first place .

◦ Since the close of the offer in 2008 till date there has not been even a kobo spent to expand the production line touted by you and your accomplice in the document your bank presented to investors . Indeed although unknown to Sir Chukwudozie at the time , it was later discovered that the factory was dead by the time you brought the company to the market in 2008 and has remained in that state till date .

◦ Post the offer ,your  Nulec  has been unable to list the shares because it  could not  provide  audited financial statements since it had not been in business .

◦ Recall that Sir Chukwudozie also bought the Shares of BankPhb (later Keystone bank) of a similar amount as the Nulec investment but he did not sue the BankPhb or anyone for that matter because the circumstances are different from the clear fraud perpetrated by  you , your bank and Nulec under the guise of private placement .

Nulec which your bank  packaged and claimed was vibrant has not  been availed a new credit facility by your bank once you recovered in 2008 the bad debt owed your bank by Nulec ,from the money paid by Sir Chukwudozie . Account of Nulec has remained dormant since then as it was before the private placement .

You, Anayo Nwosu and your accomplices were  therefore without any shadow of doubt rightly convicted as the “eyes” and “legs”of the bank in the scam against Sir Chukwudozie and accordingly  sentenced you to prison as well as  ordered  you and your bank to return what you stole from Sir Chukwudozie .

After the Judas job you did that enabled the bank recover an otherwise bad debt and equally made humongous sums as fees, etc from the private placement whose total proceed was was 85% of Dozzy’s  money , is it any surprise that the bank as you said promoted you while you were in prison , arranged to make you comfortable in jail, and that the bank Exco including the directors kept vigil at the prison where you were serving term ?
If your own way of paying back Sir Chukwudozie for the support he gave you and your wife is to connive with your bank and Nulec to  defraud him , what more do you hope to achieve by spreading lies about him and his family ? Your further attempt to extort 100m from Sir Chukwudozie when you sued him because EFCC was investigating you equally  failed and that infuriated you the more .

Not surprisingly though , you haven’t  mentioned in any of your numerous write ups that you were actually the first to take Sir Chukwudozie to court over this matter .

Yours is a classic case of the shout of indignation  which  the farmer should  make at a bird which devoured its tuber but the shout is rather egregiously been made by the bird at the owner of the farm.
You have been granted pardon as you said but in your heart you know who you cheated and that he is different from the source of the so called pardon .

However,do take  note that Restitution as ordered against you ,your  bank and accomplices has not been pardoned , neither has the need for genuine repentance and remorse been waived nor can be pardoned when you repay good with evil (Prov. 17:13).

1 comment:

  1. This must be a hatchet job write up by a non existent “Jeff Ozoigbo”. Be bold and show real name
    Austin Anadu