43-year-old salesman arrested for defrauding his employer of N22m

A man identified as James Babalola, was recently arrested for defrauding his employers of about N22million.

James Babalola pampered his wife with the money he stole from his employers

The 43-year-old salesman who worked for Pharmacy Plus prior to his arrest, had reportedly been diverting medicines from his company for over six years.

Babalola said he spent the over N22million he had made from his illegal activity, on acquiring landed property and pampering his wife.

Following his arrest, a police source said:

“The suspect would have continued with the crime, if not that the pharmaceutical company decided to audit its account. His modus operandi is 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.”

Confessing to his crime, Babalola who used to earn N80,000 as a salesman and was also entitled to an official car, said:

“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.

My wife, 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.”