How Seun Onigbinde’s Brother, Seye Onigbinde Defrauded Nigerians Of Over N500mil

Seye Onigbinde, brother of popular political critic and founder of BudgIt, Seun Onigbinde, has been arrested by men from the Lagos State Police Command for allegedly cheated 354 Nigerians for more than N500m of illegal currency trading deals.

Seye Onigbinde

Source collected that Onigbinde, operating under the company name, Blueprint Business and Consulting, convinced more than 354 Nigerians to invest in its foreign exchange company after successfully helping the first set of investors to make a return on their investments.

Onigbinde, while running the company, gave his office address as No. 13 Hughes Street, Alagomeji, Yaba, Lagos (where BudgIt is also located), but operated from his home on No. 7 Eyiowuawi Street, in the Pedro area of ​​Shomolu , Lagos.

It was learned that the original investors were also responsible for convincing a significant number of victims whose money still had to be recovered.

Onigbinde, who had worked without the required permit, would have promised his investors extraordinary profits, but if the investment failed, he would have made efforts to escape the victims’ money.

However, he was traced and arrested by detectives led by Area Commander, Area ‘F’, ACP Akinbayo Olasoji, by his still to be identified wife, who had threatened to run to America with their only child when she discovered the illegal transactions of the husband.

Detectives had followed his wife’s phone number after various petitions from his victims.

When contacted, the Public Relations police officer, Bala Elkana, said Onigbinde was arrested and added that he had been charged with the crime.

He said: “The command investigates an alleged case of fraud, cheating, money laundering, obtaining N574.251.261.01 through false pretenses through a Ponzi scheme by Tosin Onigbinde and three others, Adeyanju Tijani, Olumuyiwa Adebayo and Adewemimo Onigbinde.

Seye has since been brought to justice.

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