Platform Capital Chairman Dr. Akintoye Akindele Arrested by Police For Fraud

According to a report from TheTimes Nigeria, 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 for crude oil delivered to Duport Midstream Company Limited. This case has attracted significant attention due to its complex implications spanning various aspects.

Dr. Akindele’s troubles began when he was summoned by the Nigeria Police Force. Instead of complying, he reportedly left the country. The allegations against him assert that he engaged in the sale of crude oil to Duport Midstream Company Limited and accepted payment for this transaction. However, he allegedly failed to provide an account of the transaction when confronted about it.

Furthermore, Dr. Akindele is currently undergoing an investigation following a separate complaint filed by concerned shareholders of Duport Midstream Company Limited. This petition alleges the misuse of company funds totaling millions of dollars.

At the heart of the investigation lies Dr. Akindele’s dual role as the interim Managing Director of Duport Midstream Company Limited. While he admitted to receiving the funds, he purportedly refused to provide an explanation for their use.

Even more concerning is his resistance to the company-appointed forensic auditor’s attempts to scrutinize the financial records for any discrepancies.

Currently, in police custody, Akindele faces a challenging road ahead as the legal process unfolds. The investigation seeks to determine the extent of his involvement in the alleged fraudulent activities and whether his actions indeed led to the diversion of funds meant for the crude oil transactions.

In a surprising turn of events, the arrest also casts a shadow over Akindele’s recent personal celebrations. Just a month ago, he tied the knot with Dark Chocolate in an extravagant wedding ceremony held in the Maldives. However, these festivities are now overshadowed by the serious legal troubles he is facing.

In the midst of this unfolding drama, a connection has emerged with the Nigerian music industry. Eldee Tha Don, a prominent figure in the music scene, has come forward to shed light on Akindele’s alleged involvement in a deal that caused significant harm to his music business plans.

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

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

However, he claims that Akindele and his associates leveraged the venture capital vehicle to collect funds from investors while failing to inject the promised capital into the label. Eldee found himself shouldering financial burdens and navigating challenges without the anticipated support.

The revelations shared by Eldee paint a disturbing picture of how Akindele’s alleged actions affected the lives of artists, staff, vendors, and businesses associated with Trybe Records and its expansion project IMAN Entertainment.

Eldee recounts the personal toll of having to dip into his own accounts to sustain the venture, strained relationships, and emotional stress due to the alleged deceitful dealings.