Man Arrested For ‘Playing’ Sports Betting With N20m Company Funds

Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested Emmanuel Eze a 35-year-old head of sales for Procter and Gamble company for allegedly embezzling over N20m company funds which he claimed to have spent on online sports betting.

Mr Eze was arrested along ‘K Line area’ of Ewet Housing Estate in Uyo, Akwa Ibom State following a petition. The petitioner alleged that Eze used his position to supply goods worth over N20m to customers and converted same for personal use.

According to the complainant, the suspect between March 2020 and January 2021, sold goods worth the said amount and fraudulently collected monies from various customers using his personal account rather than the company’s account.

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The EFCC said its investigation revealed that the suspect has severe gambling problem as he spent over N4m placing bets on daily basis with almost nothing to show for it.

It was also discovered that between July and December 2020, the suspect received over N18m from one of the company’s major customers (name withheld) for goods, which were not fully delivered. According to the customer, she is still expecting the balance of goods worth over N8m.

The EFCC said the suspect would be charged to court as soon as investigations are concluded.

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