Men of the Economic and Financial Crimes Commission have arrested a top executive of P&G for squandering the company’s money on online betting.
Emmanuel Chigozie Eze, Head of Sales for Procter & Gamble company reportedly blew N20m Company Fund on online betting.
Eze was arrested by EFCC operatives along ‘K Line area’ of Ewet Housing Estate in Uyo, Akwa Ibom state, following a petition.
The petitioner alleged that Eze used his position as Head of Sales for Procter & Gamble, to supply goods worth over N20m to customers and converted the proceeds into personal use.
According to the complainant, the suspect between March 2020 and January 2021, sold goods worth the said amount and fraudulently collected monies from various customers using his personal account rather than the company’s account.
Investigations into the matter revealed that the suspect was a gambling addict as he spent over N4m placing bets on daily basis with almost nothing to show for it.
It was also discovered that between July and December 2020, the suspect received over N18m from one of the company’s major customers (name withheld) for goods, which were not fully delivered.
According to the customer, she’s still expecting the balance of goods worth over N8m.
The suspect will be charged to court as soon as investigations are concluded.