A Lagos car dealer, Adekeye Adeyemi, has been remanded for allegedly defrauding two customers of N39 million in a failed luxury vehicle deal

A Lagos-based car dealer, Adekeye Adeyemi, 44, has been remanded in custody for allegedly defrauding two customers of a combined ₦39 million under the pretext of supplying luxury vehicles.

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According to police reports, Adeyemi allegedly collected ₦14 million from Owolabi Onipede to purchase a Lexus RX 350 (2010 model) and a Toyota Camry (2011 model). He was also accused of obtaining ₦25 million from Seun Segun Adebayo for the procurement of five Mercedes-Benz cars.

Investigators said Adeyemi neither delivered the vehicles nor refunded the money. Instead, he allegedly diverted the funds for personal use and went into hiding.

Following multiple petitions, operatives of the Zone 2 Police Command, led by Assistant Inspector General Adegoke Fayoade, tracked and arrested the suspect at a hideout in Lagos.

Adeyemi was arraigned before the Igbosere Magistrate’s Court, sitting at the Tinubu Magistrate’s Court, on a four-count charge bordering on conspiracy, stealing, and unlawful conversion.

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Prosecuting counsel, ASP Ibrahim Haruna, told the court that the offences occurred in November 2021 at Ojodu, Lagos. Despite collecting millions from his victims, Adeyemi allegedly failed to meet his contractual obligations.