Economic and Financial Crimes Commission (EFCC) has detained Nigerian music executive Efe Ogbeni for an alleged fraud scheme totaling $250,000 carried out in the United States.

EFCC operatives apprehended Ogbeni at an upscale Ikoyi hotel on Tuesday, sources confirmed. This comes after earlier reports that Ogbeni was indicted by a U.S. District Court in July 2022 along with two accomplices for conspiracy and obtaining money under false pretenses.

Court documents allege Ogbeni and his co-defendants approached Tennessee-based venture capital firm Prime Reality Ventures about a dubious African oil and gas investment opportunity. After cultivating trust and exhibiting apparent expertise, the defendants persuaded the company to wire $250,000 meant for securing shares in a Nigerian firm Quantex Oil and Gas.

However, the entire deal turned out to be fraudulent with no actual equity purchase made. Prime Reality is now suing for $1 million in total damages plus the return of their initial quarter-million dollar outlay.

The recent EFCC arrest signifies Nigerian authorities collaborating with American counterparts to hold Ogbeni accountable for transnational financial crimes as the case proceeds in the U.S. court system.

With the music executive now in custody, investigators hope to unravel further details of the scheme which has elicited demand for strong punitive and restorative justice.

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