Adesola Adeyinka, CEO of Vale Finance in alleged $42,000 fraud

Adesola Adeyinka, the CEO of Vale Finance Restricted, Vale Blue Restricted and Coral Stone Restricted, is at present dealing with prosecution for alleged fraud.

The scheduled arraignment of Adeyinka and his firm, Vale Finance was delayed attributable to his failure to seem in court docket.

Justice Yetunde Adesanya of the Lagos State Excessive Court docket sitting at Tafawa Balewa Sq. adjourned the matter to June 24, 2025, following Adeyinka’s absence.

When the case was known as, police prosecutor CSP M.A. Omo-Osagie knowledgeable the court docket that proceedings couldn’t proceed within the absence of the defendant.

Adesola Adeyinka faces a four-count cost involving conspiracy, fraud, stealing, issuing threats, and offering false data.

In line with the costs filed by the Nigeria Police, the alleged offences occurred between Could 11, 2022, and November 17, 2023, in Marina and Ikoyi, Lagos.

He’s accused of defrauding Barama Vitality Assets Restricted and Mr. Oladipo Jimoh of ₦14.5 million and $42,591, underneath the pretense of arranging mortgage amenities—allegedly utilizing deceit and intimidation.

The police allege that Adeyinka, who’s at present at giant, used threats of harm and detention to demand compensation of the $42,591, falsely claiming the mortgage was dollar-denominated.

He additionally allegedly filed false studies on the EFCC’s Awolowo Highway workplace, accusing Barama Vitality and Jimoh of issuing a dud $82,800 cheque. This led the EFCC to get well $42,591 from Jimoh—an motion the police say resulted in an overpayment of ₦14.5 million.

Additional investigations revealed that the mortgage was initially disbursed in naira and recorded as such in credit score bureau studies, contradicting Adeyinka’s overseas forex claims.

The alleged offences violate Sections 411, 325, 301, and 96 of the Lagos State Felony Legislation, 2015.

Adeyinka and his firms are actually slated to seem in court docket for arraignment on June 24, 2025.