In a decisive move to address damaging allegations which surfaced online on November 13, 2021, Mr. Mayowa Olukehinde, CEO of Breach Menders, has addressed the press to set the record straight regarding claims of absconding with N50 million from investors.
He affirmed that Nigerian law enforcement has thoroughly investigated and cleared him of any wrongdoing.
“These accusations are not only misleading but deeply unfair,” Mr. Olukehinde declared. “I, too, was 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.”
Mr. Olukehinde detailed the circumstances leading to the accusations, revealing how he became entangled in a complex web of deceit. In August 2020, he was introduced to Mr. Afe Gbolahan, an instrumentalist at his father’s church, who presented an enticing forex trading opportunity promising a 30% return on investments.
Gbolahan assured him that the main trader, Joshua Kayode of Quintessential, was highly reputable and that the investments were secured under an AIICO insurance policy, with No: PFEP/IK/2020/026156.
Trusting Gbolahan, Mr. Olukehinde began promoting the investment opportunity to family, friends, and acquaintances, including close family members. Initially, everything proceeded smoothly, with Gbolahan making regular payments as promised. However, by January 2021, payment delays began, attributed to bank issues due to the New Year.
Despite substantial investments totaling over N92 million in December 2020 alone, payments became inconsistent.
As delays continued, Gbolahan continued to reassure Mr. Olukehinde that the issues were temporary. By April, with the situation still unresolved, Gbolahan sent communications to investors promising imminent payments and even asked Mr. Olukehinde to draft a letter outlining a new repayment plan.
Trusting his assurances, Mr. Olukehinde complied.
Despite numerous reassurances from Gbolahan, the payments never materialized. As the situation deteriorated, Mr. Olukehinde took legal action, filing petitions with the EFCC, DSS, and other authorities. Unfortunately, these efforts did not yield immediate results. Meanwhile, he faced severe financial and personal repercussions, including defamation, harassment, and even blacklisting by immigration.
Determined to resolve the issue, Mr. Olukehinde hired private investigators and engaged law enforcement to pursue Gbolahan. Despite his efforts, Gbolahan managed to evade accountability.
By June 2021, Mr. Olukehinde managed to consolidate debts and paid off a portion of the outstanding amounts, paying 10% of what was owed to investors. Despite these efforts, the damage to his reputation and personal life was profound.
However, law enforcement has since cleared Mr. Olukehinde’s name of wrongdoing, acknowledging his sincere efforts to repay and cover part of the losses, which he has substantially done. “I remain committed to making amends and rebuilding trust,” he concluded.
“This experience has been a harsh lesson, but it has also strengthened my resolve to ensure transparency and integrity in all future endeavours.”
Mr. Olukehinde’s address to the press marks a significant step in restoring his reputation and reestablishing the trust of investors and the public. His commitment to transparency and integrity promises a new chapter for Breach Menders, underpinned by lessons learned from a challenging and turbulent period.
