The suspects arrested over the production of counterfeit footwear at a factory in Makun, Sagamu, Ogun State, have admitted that using imitated foreign brand names helped the company attract more customers and record higher sales than products marketed under Nigerian-made branding.\n<\/p>\n
The Police Special Fraud Unit, Lagos, disclosed this in a statement on Wednesday, following an investigation into the activities of Meibalun International Nigeria Limited, which allegedly produced and marketed footwear bearing the trademarks of international brands without authorisation.\n<\/p>\n
\u00a0The suspects were identified as Ojeleye Esther, Olulenu Adebola, Adewunmi Titilayo and two Chinese nationals, Zhu Hai Chen and Zhou Hai Fen.\n<\/p>\n
According to the police, the company presented itself as a manufacturer of Nigerian-made footwear but was found producing shoes bearing the names and trademarks of Gucci, Nike, Timberland, Louis Vuitton, Adidas and other international brands.<\/p>\n
The statement, signed by the Police Public Relations Officer, DSP Ovie Ewhubare, said further investigation by the unit\u2019s Stock Capital Market Fraud Section also uncovered questionable financial practices within the company\u2019s operations.<\/p>\n
It alleged that payments made by customers were diverted into private bank accounts instead of the company\u2019s designated corporate account, prompting investigators to trace the ownership, movement and use of the proceeds. <\/p>\n
The statement read, \u201cFurther investigation by the Stock Capital Market Fraud Section of the Unit revealed questionable financial practices within the company\u2019s operations, as payments from customers were laundered into private bank accounts rather than the company\u2019s designated corporate account, which prompted further financial tracing to establish the ownership, movement and utilisation of the proceeds of crime.<\/p>\n
\u201cThe suspects admitted that the use of imitated foreign brand names generated greater sales and market patronage for the company than products marketed under Nigerian-made branding.\n<\/p>\n
\u201cThis admission further strengthened the investigative direction of the Unit and underscored the need to examine the commercial and financial structures sustaining the operation.\u201d\n<\/p>\n
The Commissioner of Police, PSFU, Eloho Edwin Okpoziakpo, said the unit\u2019s mandate to combat financial crimes extended beyond conventional banking and investment fraud to other commercial practices capable of undermining the integrity of the financial and business ecosystem.\n<\/p>\n
\u00a0He assured the public that the investigation would be conducted professionally and in accordance with due process, adding that anyone found culpable would be brought to justice.\n<\/p>\n
Source: <\/p>\n
The suspects arrested over the production of counterfeit footwear at a factory in Makun, Sagamu, Ogun State, have admitted that using imitated foreign brand names helped the company attract more… <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-16451","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/16451","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/comments?post=16451"}],"version-history":[{"count":0,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/16451\/revisions"}],"wp:attachment":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media?parent=16451"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/categories?post=16451"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/tags?post=16451"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}