The Economic and Financial Crimes
Commission has uncovered a N1.4bn scam allegedly perpetrated by former
top executives of Sosaco Nigeria Limited, marketers of Jago Milk Powder
and Jino Tomato Paste.
According to the EFCC, the former
Managing Director of the company, Satish Vasudevan; the former Financial
Director, Sridhar Ganesa; and the former Marketing Director, Janak
Saravan; conspired with two media consulting firms to defraud the
company.
PUNCH Metro learnt that the
indicted media consulting firms, Fairgate Marketing and Communications
Limited and Bethel Marketing and Communications Limited are owned by
one Yusuf Bakare, who had been arrested by the commission.
The EFCC Head of Operations, Iliyasu
Kwarbai, told our correspondent that the scam was perpetrated between
January 2011 and June 2012.
He said, “We discovered that Bakare, who
runs the two media consulting firms, had approached Sosaco to offer his
services. He subsequently entered into a contract with the management
to handle the promotion of four products of the company – Gino Tomato
Paste, Pomo Tomato Paste, Jago Powder Milk and Jago Delight for
N1,372,285,294.
No comments:
Post a Comment