N70b Banks Debts, N4.8b Private Jet & $130m Cosmas Maduka Deal Gone Sour Land Capital Oil Boss, Ifeanyi Uba In Deeper Financial Mess With Police!

A peep into investigations of financial impropriety against Capital Oil Boss, Ifeanyi Uba by detectives at the Special Fraud Unit, Ikoyi confirms societynowng.com’s disclosure that, the matter is beyond the N22b subsidy fraud he was arrested for.

Sources confirmed as revealed- the investigation has expanded to cover different charges against the Oil man still in detention at press time.

Some of the specifics of the expanded investigation include an alleged N70b loan to different financial institutions in the country.

An alleged $130million deal gone sour with Mr Cosmas Maduka, the front person of Coscharis Motors at the receiving end.

And how in the face of inability to honour his debts, Uba was able to acquire a private jet described as an Embracer Legacy 650 and valued at N4.8b.

There are said to be other charges against him- some already undergoing litigation such as, inability to pay for PMS supplied by Brittania-U Nigeria Ltd and NNPC.

Allegation of issuing a bounced cheque with face value of N4b reportedly made the complainants head for court.

Insiders revealed findings into these cases- added with the grave indictment of a N22b by the Aig Imoukhuede led presidential panel on fuel subsidy have landed the Capital Oil helms man into deeper financial mess with investigators at the Special Fraud Unit.

Further digs revealed, judging from snippets filtering out- Uba, a gubernatorial hopeful in Anambra state will find it really hard escaping serious sanctions.

Especially with talks of ‘wanted for some not so good’ business in Congo DRC floating into the mix.

Here is a link to SocietyNowNg.com news break on the recent happening surrounding the embattled businessman (Revealed :Capital Oil Boss, Ifeayi Uba In Trouble For Bankrolling Political Party, APGA!
…Why he may not excape business crippling sanctions over fuel subsidy scam)