Fake cocoa merchant arrested in Akure for defrauding businessman of ₦36 million
By Julius Alabi, Akure
A suspected fraudster, Ilegbemi Olusola Jacob has been arrested by operatives of the Ondo State Police Command for allegedly defrauding a businessman of ₦36 million under the pretext of supplying several tons of cocoa beans.
According to a statement issued on Wednesday by the Command’s Police Public Relations Officer (PPRO), DSP Ayanlade Olayinka Olushola, the suspect was nabbed following a petition from one Adegboyo Sunday, who reported that he had been duped in a fake cocoa supply deal.
The police explained that the suspect had presented himself as a legitimate cocoa merchant and, in July 2025, entered into an agreement with the victim to supply 5.56 tons of cocoa beans worth ₦36 million.
After receiving the full payment, however, Jacob failed to deliver the goods and went into hiding, claiming falsely that the consignment was being arranged from Taraba State.
The statement added that through intelligence driven efforts and the use of advanced technology, operatives of the Command’s Scorpion Squad traced and arrested the suspect in his hideout in Akure, the state capital.
“His apprehension underscores the Command’s operational efficiency and proactive crime fighting approach under the strategic leadership of the Inspector-General of Police, IGP Kayode Adeolu Egbetokun, whose vision continues to strengthen intelligence-led policing nationwide,” the statement read.
The Commissioner of Police, CP Adebowale Lawal, commended the team for the successful operation and assured residents of the Command’s determination to safeguard legitimate business interests across the state.
Lawal also urged entrepreneurs and investors to always verify the credibility and identities of potential business partners before committing to financial deals, emphasizing that “vigilance remains the first line of defence against fraud.”
The suspect, now in police custody, will be charged to court upon the conclusion of investigations.
The Command reiterated its resolve that “crime will have no hiding place in Ondo State and that every offender will face the full weight of the law.”
