Police at Airport Command, Lagos have arrested one Mr. Dare Osamo for allegedly misappropriating about N1billion belonging to Star Orient Nigeria.
It was learnt that Osamo was the Managing Director at the company before he was asked to step down in January when a joint venture partner accused Star Orient of funds misappropriation of over N400 million.
It was learnt that during an investigation by the policemen from Zone, 2 Command, Onikan, Lagos that it was revealed that Osamo had opened an account with a new generation bank where he laundered about N1billion.
The petition, however, queried the banks for granting loans and aiding Osamo in misappropriation of funds without valid documents duly signed by the board of directors.
The banks were also queried for withholding bank statements which further investigations revealed had concealed about N430 million deliberately which fuelled suspicion of collusion by the bank.
When our correspondent contacted Osamo, he described the issue as boardroom politics which had led to the violation of his fundamental human rights.
“Yes I was arrested while receiving treatment. I was in the hospital when the IPO came, I was even receiving drip and he said they have a warrant for my arrest.
“The truth is that there is a case reported at a police station earlier during which I was invited but I couldn’t respond to it because I was not at home, I was sick.
“So I sent my lawyer to them to get a date and we agreed to meet Tuesday, May 26, but I was surprised when my wife called me because I stayed away from home because I was not feeling well,” he explained.