Fake cocoa merchant arrested for defrauding businessman of ₦36m in Ondo

By Boye Oyeyemi –

The Ondo State Police Command has apprehended one Ilegbemi Olusola Jacob for allegedly defrauding a businessman, Adegboyo Sunday, of ₦36 million under the guise of a cocoa supply deal.

According to a recent statement signed by the Police Public Relations Officer, DSP Ayanlade Olayinka Olusola, the suspect posed as a genuine cocoa merchant and collected the money with a promise to supply 5.56 tonnes of cocoa beans but failed to deliver.

Police investigations revealed that after receiving the payment in July 2025, the suspect absconded to an unknown destination while misleading the victim with claims that the goods would be delivered from Taraba State.

Operatives of the Command’s Scorpion Squad, leveraging advanced intelligence tools, traced and arrested the suspect in Akure.

The statement described the arrest as a demonstration of the Command’s operational efficiency under the leadership of the Inspector-General of Police, IGP Kayode Egbetokun.

The police said the suspect remains in custody and would be charged to court after investigations are completed.

Commissioner of Police, CP Adebowale Lawal, commended the IGP for his continued support, assuring that the Command would sustain its crackdown on criminal networks and protect the business community across the state.

He urged investors and traders to verify the identity and credibility of business partners before committing to major financial transactions, stressing that vigilance remains key to preventing fraud.