I Was Also A Victim, Misled By Trusted Individuals – CEO Breach Menders, Mayowa Olukehinde
The Chief Executive Officer, CEO Breach Menders, Mr Mayowa Emmanuel Olukehinde has said he was also a victim, misled by trusted individuals and caught in a fraudulent scheme that spiraled out of control.
Mr. Olukehinde made this known in an interaction with the media, narrating his ordeal on allegations of fraud of about 50million naira levelled against him by investors in a forex trading business.
Mr. Mayowa Olukehinde was dragged online in November 2021, with accusations that he absconded with N50 million from investors. The narrative was widely circulated, causing significant harm to his reputation.
While explaining the true story that led to the unfortunate events and how he became entangled in a complex web of deceit orchestrated by others, Mr Olukehinde said despite facing significant personal and financial hardships, he have continually strived to resolve the situation and make amends to the best of his ability.
He explained that his family, friends, and other close associates who entrusted their money to him were also deeply affected, and that he have worked tirelessly to address their concerns and repay as much as possible under the circumstances.
He said one Afe Gbolahan, an instrumentalist in his father’s church, introduced him to the forex venture in August 2020 with a promise that a 30% return on every investment Olukehinde brings will be given.
“Gbolahan was closely working with Joshua Kayode, the main trader for Quintessential. He assured me that the investments were secured under an AIICO insurance policy (Policy No: PFEP/IK/2020/026156). Trusting him, I began promoting this investment opportunity to family, friends, and acquaintances, assuring them of the safety and profitability of their investments.”
Mr. Olukehinde hinted that, initially, everything went smoothly but in December 2020, Gbolahan informed him of a bonanza, encouraging reinvestment for higher returns instead of the regular 20% “I relayed this information to my marketing team, paying my marketers 5-10% commissions and payments were consistent until January 2021, when delays began.
He said “On January 1, 2021, payments were delayed, which Gbolahan attributed to bank issues due to the New Year. Despite having received investments totaling over N92 million in December 2020, payments were inconsistent. Gbolahan reassured me repeatedly that everything was fine and that the delays were temporary.
“As delays continued into February and March, Gbolahan continued to make excuses, citing issues with bank processing and assuring me that payments would be made soon. He even shared messages allegedly from Joshua Kayode, claiming that the company was experiencing temporary setbacks but that all payments would be resolved.
“By mid-January, Gbolahan transferred direct dealings with Joshua Kayode to me, claiming it would expedite payments. However, payments remained elusive. Gbolahan’s reassurances continued, but his actions did not match his words. By March, he sent out a new repayment schedule, which also failed to materialize.
Speaking further, Mr. Olukehinde said as the situation deteriorated, he took legal action, filing petitions with the EFCC, DSS, and other authorities but unfortunately, the efforts did not yield immediate results.
He said he faced severe financial and personal repercussions, including defamation, harassment, and even blacklisting by immigration.
“Determined to resolve the issue, I hired private investigators and engaged law enforcement to pursue Gbolahan. Despite my efforts, Gbolahan managed to evade accountability. He eventually sold some properties, but the funds recovered were insufficient to cover the total amount owed to investors.
“By June 2021, I managed to consolidate debts and paid off a portion of the outstanding amounts, covering 10-15% of what was owed to investors, as it was impossible to cover all the debts given the circumstances. Despite these efforts, the damage to my reputation and personal life was profound. However, law enforcement cleared my name of wrongdoing based on the fact that I had made sincere efforts to repay and had covered part of the losses.
“The narrative that Mayowa Olukehinde of Breach Menders absconded with investors’ money is not only misleading but deeply unfair. The truth is that I was also a victim, misled by trusted individuals and caught in a fraudulent scheme that spiraled out of control. Despite facing significant personal and financial hardships, I have continually strived to resolve the situation and make amends to the best of my ability. My family, friends, and other close associates who entrusted their money to me were also deeply affected, and I have worked tirelessly to address their concerns and repay as much as possible under the circumstances.
While given detailed account of events, Olukehinde said “In August 2020, Gbolahan introduced me to the forex trading venture, promising a 30% return on investments and reassuring me of the security of the investments under an AIICO insurance policy. I began promoting this opportunity to family, friends, and acquaintances, sending money to Gbolahan’s account or the Quintessential company account. Payments were made as promised, and in December 2020, Gbolahan encouraged reinvestment due to a bonanza, which I promoted through my marketing team.
“In January 2021, delays in payments began, which Gbolahan attributed to bank issues due to the New Year. Despite receiving investments totaling over N92 million in December 2020, payments remained inconsistent. Gbolahan reassured me that the delays were temporary. However, by mid-January, Gbolahan transferred direct dealings with Joshua Kayode to me, claiming it would expedite payments. Payments remained elusive, and Gbolahan’s reassurances continued without resolution.
“As the situation deteriorated, I took legal action, filing petitions with the EFCC, DSS, and other authorities, but these efforts did not yield immediate results. I faced severe financial and personal repercussions, including defamation, harassment, and even blacklisting by immigration. Determined to resolve the issue, I hired private investigators and engaged law enforcement to pursue Gbolahan. Despite my efforts, Gbolahan managed to evade accountability.
“By June 2021, I managed to consolidate debts and paid off a portion of the outstanding amounts, covering 10-15% of what was owed to investors. Despite these efforts, the damage to my reputation and personal life was profound. Law enforcement cleared my name of wrongdoing based on the fact that I had made sincere efforts to repay and had covered part of the losses.
“The narrative that Mayowa Olukehinde of Breach Menders absconded with investors’ money is misleading and unfair. I was also a victim, misled by trusted individuals and caught in a fraudulent scheme that spiraled out of control.
“Despite facing significant personal and financial hardships, I have continually strived to resolve the situation and make amends to the best of my ability. My family, friends, and other close associates who entrusted their money to me were also deeply affected, and I have worked tirelessly to address their concerns and repay as much as possible under the circumstances.” He concluded
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