SHAME:

Nigerian Hydro Lounge Nightclub Owner in South Africa, ABDUL OLATUNJI, alias ‘Owo’ sentenced to 8years prison for STEALING N296 million, faces deportation 

…defraud several businesses in Johannesburg to the tune of 12 million Rand, blames temptation on the Devil

*Lead cartel that specialise in compromising legitimate companies’ email, sets software to infiltrate bank accounts, transfer funds to personal use

*purchase luxurious homes, state-of-the-art vehicles with customized plate numbers

*BY AKEEM EKUNDAYO/SOUTH AFRICAN Bureau Chief

NOT ALL THAT GLITTER IS GOLD. A Nigerian businessman, owner of Hydro Lounge Nightclub in Sandton, Johannesburg, South Africa is in hot water, after South African law enforcement officers traced his fingerprints to the disappearance of a whooping sum of Two Hundred and Ninety Six million Naira, N296 million  (12 million Rands) found missing as a result of several fraudulent transactions and manipulation led by ABDUL OLATUNJI, a notorious con man called ‘Owo’, which translates ‘Money’ in Yoruba language. Olatunji has been convicted, sent to jail for eight years and would be deported after his prison term. Surprisingly, he’s been ‘singing like the Kenerry bird’ blaming the Devil for tempting him to defraud companies. 

Olatunji leads a cartel of criminals that specialise in compromising legitimate companies’ email, sets software to infiltrate bank accounts, and transfers funds to personal use through Business Email Compromise (BEC). He purchased luxurious homes, state-of-the-art vehicles with customized plate numbers. All the proceeds of his crimes have now been seized by the South African government. 

Confirming this development, Timeslive, a South African online newspaper, Olatunji used part of the proceeds of the scam to purchase luxury vehicles, including a Mercedes-Benz and a Porsche. He was arrested by South Africa’s law enforcement agents in 2019.

Adedayo Quadri, Olatunji’s associate, was also sentenced to seven years in prison for his involvement in the fraudulent scheme.

Olatunji’s nightclub, Hydro Lounge, has been reported to be a well-known meeting place for alleged members of the Black Axe, a notorious Nigerian confraternity. The club has also featured Davido, a world famous musician and Opaogun Oluwasegun Akinola, popularly known as Opa6ix, who is wanted for fraud by the Economic and Financial Crimes Commission (EFCC).

“Both men pleaded guilty and were convicted on 24 counts of theft related to cloning the email addresses of conveyancers (law firms acting as company solicitors) DM5 and Yaron Waks,” said Phindi Mjonondwane, spokesperson for the National Prosecuting Authority in South Africa.

“The law firms handled property sales and registrations on behalf of its clients, Amogelang Holdings and Lesley Warther respectively.

“The accused used spyware and viruses to monitor emails between the law firms and their clients (property traders) that were about to do/receive transfers from the conveyancers after their properties were sold.

“They would then send their banking details to the conveyancers, as though these emails were from the property traders, resulting in R7.8m (N192.6 million) and R4.2m (N103.7 million) being diverted to their accounts.”

Olatunji and Quadri were sentenced on July 8. The police have also charged the club owner for fraud in relation to millions of rand stolen from another victim after court proceedings.

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