Naeto C Accused of Fraud

Nigerian rapper and big shot act Naeto Chikwe better known as Naeto C has been accused of fraudulently obtaining money from a certain ‘Fine Boy Swag (FBS) Entertainment’ outfit over a show he was paid to perform at maitama garden.

FBS Entertainment is claiming that they contracted the Storm Records artiste to perform at a show which was scheduled to hold at Cubicle Arena, Maitama Garden, Maitama on July 18, 2012 by 5:00pm.

FBS states that Naeto had agreed by signing a one page contract agreement dated July 12, 2012.

They also alleged that a sum of N400,000 (Four hundred thousand Naira) was paid into the rapper’s Guaranty Trust Bank (GTB) account.

‘Naeto C defaulted in performing as agreed in the contract signed, and also failed to pay back the money paid in respect of the contract four hundred thousand Naira (N400,000.00) being the deposit paid in respect of the contract’, Muhammad Nura, a rep for FBS said in the statement.

‘His actions as stated above apart from being a breach have also constituted an obtainment by false pretence which constitutes an offence under the laws of the Federal Republic of Nigeria.

We hereby write to inform the general public of the activities constituting a betrayal of trust and serious criminal offence which should be accorded attention by all concerned’, Nura continued.

FBS Entertainment also say they have written the Economic and Financial Crimes commission (EFCC) about the matter as the rapper’s alleged actions has made their company to ‘suffer damages’.

NET has contacted Storm Records, the very popular label that houses the rapper. The management say that they are not aware of the on-going drama but will look into in immediately.

Interestingly, Storm says that if they (FBS) paid a deposit and they could not complete payment, then they would have to forfeit the advane.

‘That’s standard for over 50 years in this industry globally. Revert tomorrow and I am sure we will have a handle on it’, Storm 360 CEO, Obi Asika said in an E-mail correspondence with NET.

‘And of course you know we stand with Naeto regardless of what they say!’, he added.

source:thenetng.com/2012/11/naeto-c-accused-of-fraudulently-obtaining-money-label-not-aware