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23.11.2021 news ‘Endorsed by His Father’, Abuja Law School Student Took Investors’ N20m and Blocked Their Numbers

Published 23rd Nov, 2021

By Emmanuel Uti

Timilehin Odeyemi, a student at the Abuja Law School, has been accused of swindling unsuspecting investors, through his Tee Xchange Company.

In September 2020, Odeyemi advertised his investment racketing company on social media, targeting vulnerable Nigerians hit by the coronavirus lockdown.

Claiming to be a well-meaning philanthropist, he asked some unsuspecting individuals to trust him with their monies, promising a 30 percent Return on Investment (RoI).

‘FRIENDLY’ PROMOTION GONE BAD

Out of goodwill, friends who trusted him began to advertise for him on their WhatsApp accounts. One of such friends was Oyebadejo (not real name), who would not want to be bamed in this story for the fear of victimisation.

READ ALSO: Elmem Alban’s Pipminds Int’l Ltd. Disappears with Lady’s N1.9m

 “When I saw Odeyemi’s poster everywhere on social media, I decided to assist him by using my WhatsApp platform to promote him. I felt I knew him, so I didn’t really need to investigate before promoting him,” Oyebadejo said.

NO PAY AFTER INVESTMENT

Odeyemi Timilehin

After promoting Tee Xchange, people who trusted Oyebadejo began to patronise the business, and in a short time, it appeared he was working for Odeyemi’s company.

“In October, many people joined Tee Xchange, thinking they could trust it just as they trusted me. One of my friends invested N500,000, and another, N200,000, because of me. But now they are yet to get back their money,” he told FIJ.

FAILED PROMISES, NO CALLS OR CHATS

By December 2020, promises Odeyemi made began to appear unachievable when he could not give anyone who had invested in his company a dime. In January 2021, things became worse; investors began to ask for their funds, but Odeyemi would not answer their calls or reply to their chats.

 “In February, it turned out that Odeyemi had scammed everyone, and I was the person to blame. When anyone called him, he blocked their numbers. If anyone chatted with him, he blocked them too. He was not even ready to explain what went wrong,” his friend said.

“When the pressure became really intense, I reached out to his parents, but his father, like him, would not answer his calls. I did not want to harass him with the police by going to his house, but he seems to be an accomplice as he’s unwilling to help people get their money from his son.”

Oyebadejo told FIJ he was certain Odeyemi executed a scheme that gave him more than N20 million.

READ ALSO: Using Pipminds Ltd, Emem Alban Scammed 2,000 Investors of Billions and ‘Logged Out’

‘HE KEPT GIVING EXCUSES’

This image has an empty alt attribute; its file name is WhatsApp-Image-2021-11-22-at-2.39.48-PM-498x1024.jpeg

For Ebenezer Damilola, a cryptocurrency trader who lost N240,000 to Tee Exchange, it did not seem like he was investing in the wrong place.

“Odeyemi kept reposting pieces of evidence that showed his father invested with his company. With proof that his father had endorsed his business, I registered with N240,000,” Damilola said.

“In December, I expected my money but Odeyemi began to say stories. From saying his business crashed to other lies, he kept giving excuses.”

After going to a police station in Ibadan to lodge a complaint on the matter, Damilola reached out to Odeyemi’s father to inquire about the whereabouts of his son, but ‘his father denied him’.

“I met his mother on the issue but she asked me why I did not tell her before investing with her son. I was angry because her husband endorsed the business, so why would I ever need to tell her about my choice to invest,” he said.

On several occasions, FIJ made calls to Odeyemi’s number, but it was unreachable. He also did not reply to text messages sent to his phone.

Odeyemi’s father also neither answered his calls nor responded to a text message sent to him.

Published 23rd Nov, 2021

By Emmanuel Uti

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