Home » News » Businessman, Olawunmi Awosedo accuses Sterling Bank, MD and a Director of fraud!
Businessman, Olawunmi Awosedo accuses Sterling Bank, MD and a Director of fraud!

Businessman, Olawunmi Awosedo accuses Sterling Bank, MD and a Director of fraud!

His profile describes him as a Lawyer and Real Estate Developer but Olawunmi Awosedo is about to take on a huge battle as he has taken to hia face book oage to attack Sterling Bank,  Managing Director, Mr. Yemi Adeola and a Director of the Bank, Yemi Idowu of fraud!

This is how he told the story ” During election season in 2015, GEJ employed the analogy of the goat and the yam to illustrate corruption. He asked, how do you stop a goat from eating yams if the yam is placed in his front?

Let’s pose the same question to Yemi Adeola and the management of Sterling Bank. The facts are clear: Yemi Idowu is a real estate developer who expressed an unethical interest in acquiring the property of a customer who was a direct competitor and rival. In fact, Yemi deliberately frustrated our project, using his power as director of the bank, and it was clear he would stop at nothing to get his hands on our land. A few years later, Mr Adeola appointed the same Yemi Idowu to manage our account, and you wonder how our property eventually ended up in his hands? Was there ever another possible outcome?

That’s exactly like placing a piece of yam in the mouth of the goat and expecting him not to eat it. Who do you blame, the farmer who placed the yam in its mouth, or the goat that ate it? Please ask Sterling Bank it if was ethically proper to appoint Yemi Idowu to manage the account of his direct competitor, especially after he had expressed a determined interest in said customer’s property? In particular, please ask Yemi Adeola if this was morally, legally, ethically and professionally right.

After deliberately frustrating our project and declaring it “unprofitable”, Yemi Idowu ends up buying our property, in a transaction that’s immoral, unethical, unprofessional and frankly, despicable. And then he proceeds to use the land for the exact same purpose. He has now built Cadogan Estate on our land, proving that our project was actually profitable, and he just wanted our land because of greed. It can only be greed, because he owns a lot more land than we do, but a greedy man never knows when to stop. Well done sir!

And then we were told, “don’t fight us because we have deep pockets” by Yemi Adeola, who should have known better. Yemi Adeola, and his people give banking a bad name but his fellow bankers would rather cover him up than speak the truth. Our society is corrupt, but it is not only the politicians that are at fault. Our bankers are just as bad, or even worse. Gangsters in pinstripe suits….

Over the past 4 years Yemi Adeola has committed millions of Sterling Bank’s money to defend this travesty, and the MDs of Skye Bank and Wema Bank have joined him, spending millions of their own banks’ funds to defend the indefensible. Because “esprit de corps” and professional courtesy are far more important than integrity and protecting the truth. If you have shares in any of these banks, you should be interested to know how your investment is being managed – if they are spending millions of the banks’ resources to protect Yemi Idowu’s greed, you wonder what else they’re hiding under their fancy suits. If they are willing to back this madness, then it’s because they see nothing wrong with it, abi I lie?

LET THE PUBLIC BEWARE:

Cadogan Estate was built on a foundation of fraud and greed, and the shameless extortion of the customer by Yemi Idowu and Sterling Bank. We are in court, and we will not give up until we win. If you invest your money in it, you have only yourself to blame.

How are you today, Mr Yemi Adeola? Hope you’re enjoying your deep pockets. You should know that darkness and evil may prevail for a while, but the truth will always out. We are fighting for our livelihoods, and we will not surrender. Thank you for treating family with love and consideration. God will reward you and your household accordingly. Doubtless you thought we would have given up by now, but we’re still going to be fighting our corner until we win – what choice do we have? We come from very humble beginnings, and we only got here by the grace of God – we don’t have “deep pockets”. So if you think we’re going to give up this fight before we win, then you’re on a long thing.

And stop pretending to be innocent, because, as I reminded you during our last meeting, you’re the MD of the bank, and you signed the papers with your own hands, so you cannot claim ignorance about these things. Stop telling people that I’m not being honest, because the facts are clear, regardless how you dress them.

Have a good weekend uncle Yemi, I hope to see you at future family gatherings. Of course I will point you out to my children and my friends, and I will tell them what you did to us. That’s just the way the cookie crumbles.

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2 comments

  1. I have heard of the story before, The Awosedos took a loan from sterling bank and used the funds to run for governorship in Ogun state. When Awosedo Lost the election, he couldnt pay the bank. The bank then went ahead to try to recover its loans by selling the Collateral.

    What did they think will happen, that the bank will allow AMCON to take it over?

  2. Anonynous Staff of Sterling Bank

    AKin,

    you are obviously an apologist for Sterling Yemi Idowu, because you are too quick to state “facts” that you do not know. You are too quick to defend the banks. Even if a customer defaults, is the bank supposed to sell the his assets to themselves? I work in Sterling Bank. We all know the truth, but we cannot say it because we don’t want to lose our jobs. For your information, Yemi Idowu voluntarily returned N500 million from the secret profit he made on this deal to AMCON. Why did he do that?

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