Dr. Akintoye Akindele, Chairman of Platform Capital, Arrested for Alleged Fraud

Dr. Akintoye Akindele, who serves as the Chairman of Platform Capital, has been apprehended by the Nigeria Police Force on charges related to fraudulent activities.

The accusations center around the diversion of payments linked to crude oil supplies made to Duport Midstream Company Limited, a case that has garnered significant attention due to its complex implications.

The predicament for Akindele commenced with an invitation from the Nigeria Police Force, which he reportedly evaded by leaving the country. The allegations against him assert that he engaged in the sale of crude oil to Duport Midstream Company Limited, for which he received payment. However, when confronted, he allegedly failed to provide an account of the transaction.

Furthermore, a separate petition submitted by concerned shareholders of Duport Midstream Company Limited has led to an investigation into Akindele’s actions. This petition alleges the misappropriation of company funds amounting to millions of dollars.

Central to the investigation is Dr. Akindele’s dual role as the interim Managing Director of Duport Midstream Company Limited. Although he acknowledged receiving the funds, he purportedly declined to furnish an explanation regarding their utilization.

Questions have been raised about his resistance to the efforts of a forensic auditor appointed by the company to examine the financial records for potential irregularities.

Presently in police custody, Akindele faces a challenging path ahead as the legal proceedings unfold. The investigation aims to ascertain the extent of his involvement in the alleged fraudulent activities and whether his actions indeed led to the diversion of funds designated for the crude oil transactions.

In an unexpected twist, Akindele’s recent personal celebrations have been overshadowed by his arrest. Just a month ago, he celebrated his wedding with Dark Chocolate in an opulent ceremony held in the Maldives. However, these festivities now take a backseat to the serious legal predicament he is confronting.

Amidst this unfolding saga, a connection has emerged with the Nigerian music industry. Prominent figure Eldee Tha Don, well-known in the music scene, has come forward to shed light on Akindele’s alleged involvement in a deal that inflicted significant harm on his music business endeavors.

Eldee, who spearheaded Trybe Records, a label that nurtured notable artists and producers, disclosed in an interview that Akindele, operating under the guise of a venture capital company, orchestrated a scheme that derailed his music enterprise.

According to Eldee, Akindele’s venture capital firm, Synergy Capital, purportedly approached Trybe Records with assurances of funding and partnership to expand the label’s reach. Eldee accepted the proposal, anticipating a much-needed boost for his music ventures.

However, he asserts that Akindele and his associates exploited the venture capital framework to secure funds from investors while failing to infuse the pledged capital into the label. Eldee found himself burdened with financial woes and navigating challenges without the expected support.

Eldee’s revelations paint a disconcerting image of how Akindele’s alleged actions impacted the lives of artists, staff, vendors, and businesses affiliated with Trybe Records and its expansion project IMAN Entertainment.

Eldee recounts the personal toll of having to dip into his personal accounts to sustain the venture, strained relationships, and emotional stress stemming from the purportedly deceitful dealings.