Sujimoto Construction firm trailed in another scandal, defrauds 75years old man of N300million

Popular Lagos-based businessman, Sijibomi Ogundele of Sujimotos Construction Company, has been hit with another scandal as he was recently accused of defrauding a 75year old man of his entire live savings after convicing the elderly man to invest in his business.

Allegations have it that the elderly man came in contact with Sijibomi after he ran into a prototype building project which he proposed for investment. After discussions, he was able to convince the said investor into coughing his live savings into the project which according to reports never yielded any result at the due time.

As part of the benefits attached to the investment, he was promised 35% ROi, and having saved up enough money as the 75 year old man was a Professor of Medicine at the University of Ibadan, decided to sell most of his assets to invest the money in the company.

Upon maturity stage which was supposed to be May 2024, the elderly man got nothing and within the same period he fell sick and tried to reach out to Sijibomi for his investment which became dramatic but was later paid N50million after much pressure.

Allegations have it that after Sijibomi paid the N50million to the elderly man, till date, he is yet to balance up payment as in his usual manner has been evading calls and the man with claimes that he is not around by his staff.

Sujimoto’s Response

In response to the allegation Sijibomi Ogundele told Apples Bite Magazine that the allegation is false.

He said, “It’s false and not the way it is. FCID, EFCC and others have been informed on this matter, and the law will take it from there. Everyone tarnishing our reputation will definitely face the full force of the law,” stated Ogundele in his official response to the allegation.

The CEO’s statement indicates that he has already engaged law enforcement agencies, including the Force Criminal Investigation Department (FCID) and the Economic and Financial Crimes Commission (EFCC), regarding the matter. His response suggests a potential legal counteraction against those he believes are damaging Sujimoto’s corporate reputation.

However, Topnaija.ng understands that Sijibomi is not new to scandal as he has been dragged by other investors in time past over fraud causes which he keeps denying or tries settling out of court. It would be recalled that one Isaac, a Lagos resident, had accused Sujimoto Construction Company Limited of failing to honour an investment agreement that has left him with an outstanding balance of over N90 million.

According to FIJ, Isaac, who preferred only his first name in print, said he invested N70 million in Sujimoto Construction Company in 2021 and rolled over his investment twice because the company failed to pay him on two maturity dates.

According to FIJ, Isaac, who preferred only his first name in print, said he invested N70 million in Sujimoto Construction Company in 2021 and rolled over his investment twice because the company failed to pay him on two maturity dates.

He said he first learnt of Sujimoto Construction Company at a hotel in Ikeja, where representatives of the company proposed an investment scheme offering 20 per cent interest per annum. He said he liked the idea but did not invest until he visited Sujimoto’s office and invested N70 million on July 24, 2021.

“I was promised a 20 per cent return on my investment, which meant that by the end of one year, I was supposed to receive N84 million,” Isaac told FIJ.

But when the time came, Sijibomi Ogundele, the Chief Executive Officer (CEO), called me and begged for more time. I told him this was not good practice and lacked transparency, but I agreed to roll over the investment for another year.”

Isaac said the matured sum with reinvestment increased to N100.8 million. But in July 2023, when this amount was due, the company failed to pay him. He said Sujimoto Construction Company asked him to roll over the funds again but didn’t state they had any problems.