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”I duped my employer to acquire property and pamper my wife” – Salesman Arrested for Defrauding Company of N22M Reveals

A 43-year-old salesman, James Babalola,  who works for a pharmaceutical company, has been arrested by the Lagos State Police Command for allegedly diverting company drugs worth N22 million. 

Babalola, who had been working with the company, Pharmacy Plus, for several years, had been diverting the drugs for six years before his eventual arrest, New Telegraph reports.

While confessing to the crime, Babalola reportedly said he used the money he made from the deal to acquire property, live luxuriously, and pamper his wife, Funke.

It was also gathered that the police have so far, confiscated one of the properties acquired by the suspect.

“The suspect would have continued with the crime if not that the pharmaceutical company decided to audit its account.

His modus operandi was to use a pseudo third party name to collect the goods, but he’s actually the person collecting the goods. He also opened a third-party bank account,” a police source said.

While confessing to the crime, Babalola allegedly said:

“I’m here because I owe Pharmacy Plus money. I have told them to give me time. I promise to refund them. I have been working for the company for six years.

They used to give me goods to sell. I’m a salesman. We sell drugs. I have been intercepting the delivery of the goods over the years with the aid of a pseudo third-party account.

I was only caught last month after the company’s account was audited. The reason I did it was because of properties. I needed more properties.

Funke had been suspecting and complaining that I was spending beyond my monthly salary, but she didn’t stop accepting varieties of items I bought for her. I convinced her to believe the money was legit.

She didn’t know anything about any of this. I’m ashamed of myself. I regret everything.”

The suspect who said he used to earn N80, 000 monthly as a salesman and had an official car, added that he was not satisfied with his salary and that was the reason he decided to steal from his company.

Photo credit: New Telegraph

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