Emeka Okonkwo, popularly known as E-Money, the Chief Executive Officer of Emy Cargo and Shipping Services Limited, is currently under investigation at the Force Criminal Investigation Department Annex, Alagbon, over an alleged dispute involving N1,209,200,000 with a vehicle dealing company, Autocorp Limited, in Lagos State.
According to a police source familiar with the case, Okonkwo and the aggrieved party have been summoned for questioning, with another meeting scheduled to further address the matter.
The dispute reportedly arose from a business transaction in which Autocorp Limited contracted Okonkwo’s company to clear eight vehicles, consisting of six TXL Prado and two Lexus jeeps, valued at N1,209,200,000.
Despite the vehicles being cleared by Okonkwo, Autocorp Limited claims they have yet to take delivery of them.
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During discussions with Autocorp Limited’s sales manager, Patricia Iduwre, she revealed that Okonkwo allegedly admitted to selling the vehicles, citing owed payments as justification, a claim Autocorp Limited denies.
The company has involved legal representation and reported the case to the police, urging them to investigate the matter.
In a petition to the FCID, Autocorp Limited’s lawyer described the dispute as involving “stealing, fraudulent conversion, and criminal sale” of the vehicles, urging the authorities to intervene and bring Okonkwo to justice.
When contacted, Okonkwo refuted the allegations, stating that while a business transaction did occur, the accusations were false. He requested to address the matter in person, suggesting a meeting on a later date.
Confirming the investigation, the spokesperson for the FCID Annex, Aminat Mayegun, stated that the case is being looked into by the Anti-Human Trafficking Unit of the Force, with both parties involved scheduled for further discussions.
The investigation continues as authorities seek to unravel the truth behind the disputed transaction.
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