OMG! Dbanj Dragged To Court, Over Serious Debt Issues.

Awww, I just hope this is not as real as it looks. Dbanj according to reports, have been dragged to court, for owning numerous debts that he has refused to pay, and also, for issuing a dub cheque to one of the companies he owes (Mindhub Technologies). It is also said that Dbanj stands a risk of serving jail terms as a result of this.

And did you know Dbanj might just be broke? I mean broke as in he doesn't have money?

Below is a letter dated June 13, 2014 that leaked, the accuser’s attorney, D.U. Odigie of Uyi Chambers, Benin City, Edo State demanded for the repayment of the debts of $240, 000 (two hundred and forty thousand United States Dollars) and N6.4m (six million four hundred thousand naira).

 “We act as Solicitors to MINDHUB TECHNOLOGIES LTD (hereinafter called “OUR CLIENT”), and on whose instruction we write you this letter in the manner stated hereunder. It is our brief that sometime in January 2013 in Lagos, you signed a Personal Guarantee/Memorandum of Undertaking with our client wherein you agreed/undertook to pay our client the investment fund of N100,000,000.00k (One Hundred Million Naira Only) given to D KINGS MEDIA LIMITED by our client, should the latter default in payment of the debt. The said debt is made up of Nigerian and United States of America’s currencies,” the letter stated.

 The attorney accused D’banj of issuing two dud cheques: “Following the default by D KINGS MEDIA LIMITED to pay the debt to our client, and pursuant to the aforementioned personal Guarantee/Memorandum of Undertaking, you issued two post-dated cheques; one for the sum of $240,000,000 (Two Hundred and Forty Thousand United States Dollars Only) dated 20/12/2013, and the other for the sum of N15,000,000,00k (Fifteen Million Naira Only)  dated 20/1/2014. Both cheques were returned unpaid on presentation by our client.

 “We are further informed that although you thereafter paid the sum of N8, 600,00.00K ( Eight Million, Six Hundred Thousand Naira Only) out of the N15,000,000,00k (Fifteen Million Naira Only) Cheque, leaving a balance  sum of N6,400.000.00k (Six Million, Four Hundred Thousand Naira Only), you have failed, neglected or refused to redeem the entire or any part of the $240,000.00 (Two Hundred and Forty Thousand United State Dollars) cheque,” the letter signed by a Mrs. C.1 Ugwuanyi said.

The letter reminded the singer of the implications of issuing dud cheques. “You are no doubt aware that it is a serious criminal offence to issue a dud cheque. The offence attracts grave legal consequences under the DISHONOURED CHEQUES ACT, and our client has the option to ensure your prosecution.

 “In the circumstance, we have our client’s instruction to demand payment of the aforementioned outstanding sums/debts of $240,000.00 (Two Hundred and Forty Thousand United States Dollars) and N6, 400.000.00k (Six Million, Four Hundred Thousand Naira Only) respectively to our client through this Law office within seven days from the date of receipt of this letter.”

The ultimatum has elapsed and D’banj according to reports, instead of paying the money, decided to flee to South Africa. Mindhub Technologies have since sued him to a Lagos High Court (we must put in the suit number). D’banj’s modus operandi has been the same, he approaches very wealthy men luring them to invest in the industry, to set up entertainment companies and develop artistes for them with the promise of huge returns on their investments, but rather he collects their money and moves on to the next target with the same D’banj is allegedly indebted to so many wealthy people who he took soft loans from to fund his shows and expensive life style according to a close source. The implication of D’banj’s actions on the entertainment industry is that, people willing to invest would be scared because the ones that have tried it with him have had their fingers burnt. That is just the sad reality of the situation.

The documents: IN THE HIGH COURT OF JUSTICE LAGOS STATE OF NIGERIA IN THE LAGOS JUDICAIL DIVISION HOLDEN AT LAGOS GENERAL FORM OF WRIT OF SUMMONS                                                                       SUIT NO:………………………… BETWEEN MINDHUB TECHNOLOGIES LTD………………………………… CLAIMANT AND OLADAPO OYEBANJO (A.K.A. D’BANJ, A.K.A THE KOKOMASTER)………………………... DEFENDANT

To:Defendant,No.8,OsaroIsokpan Street, Lekki Phase 1,Lagos. You are hereby commanded that within forty-two days after the service of this writ on you, inclusive of the day of such service you do cause an appearance to be entered for you in an action at the suit of MINDHUB TECHNOLOGIES LTD and take notice that in default of your so doing the claimant may proceed therein, and judgment may be given in your absence. DATED this ………………………….day of ………………………..20…………….. …………………… Registrar 

Memorandum to be subscribed on the writ. NB: This writ is to be served within three calendar months from the date thereof, or, if renewed, within three calendar months from the date of the last renewal, including the day of such date, and not afterwards. The defendant may enter appearance personally or by legal practitioner either by heading in the appropriate forms, duly completed, at the Registry of the High Court of the Judicial Division in which the action is bought or by sending them to the registry by registered post. Indorsements to be made on the writ before issue thereof  The claimant’s claims for recovery of debt.(liquidated demand)’ This writ was issued by Dennis UyiOdigie of …. D.U Odigie& Co. whose address for service is 170 Siluko Road, Benin City, Nigeria, and whose Address within Jurisdiction is  c/o Benedict EmekaOnyeabor Esq., Sam Ogungbamila&Co, No. 104, Iwaya Road, Onike, Yaba, Lagos, legal practitioner for the said claimant who resides at Plot 15 Block 110, Henry ojogho Crescent, Off Road 69, lekki Phase 1, Lagos. Indorsement to be made on copy of writ forthwith after service. This writ was served by the at……………………on the defendant (here insert mode of service) On the ………………………..day of ………………20…………………..Indorsed the ……………..day of ………………………..20…………………… ………………………………………… (Signed) ……………………………………… (Address)

CLAIM By a Personal Guarantee/Memorandum of Undertaking dated 7/1/2013, the defendant undertook/promised to pay or to be held liable to the Claimant for the sums of USD500,000 (Five Hundred Thousand U.S Dollars) and N20, 000, 000.00 (Twenty Million Naira) respectively which DKINGS MEDIA LTD was to pay to claimant under a contract it signed with the claimant, in the event of DKINGS MEDIA LTD failure to pay the debt to claimant. Following D’KINGS MEDIA LTD’S failure to pay up the aforesaid sums of money to the claimant, the defendant paid to the claimant the sums of USD 260,000 (Two Hundred and Sixty Thousand U.S Dollars) and N13,600,000.00(Thirteen Million, Six Hundred Thousand Naira) leaving the balance sums of USD 240,000 (Two Hundred and Forty Thousand U.S Dollars) and N6,400,000.00 (Six Million Four Hundred Thousand Naira Only) respectively. Despite numerous promises from the defendant, and in spite of repeated demands from the Claimant, the defendant has failed, refused or neglected to pay the said outstanding sums of USD 240,000 (Two Hundred and Forty Thousand U.S Dollars) and N6,400,000.00  (Six Million Four Hundred Thousand Naira Only)  to the claimant, hence this action. The claimant hereby gives the defendant NOTICE TO PRODUCE the original copies of all correspondence/relevant documents issued to him by claimant who shall at the trial rely on same. DATED THIS………………….DAY OF……………………………2014          _________________ D.U.ODIGIE ESQ For :D.U. ODIGIE & CO. (Claimant’s counsel) No 170 Siluko Road, Benin City, Edo Sate.                                                                                         Tel:08035060050                                                              ADDRESS WITHIN JURISDICTION C/O Benedict EmekaOnyeabor Esq, Sam Ogungbamila& Co, No.104,Iwaya Road,                                             Onike,Yaba,Lagos D.U.ODIGIE &CO LEGAL PRACTITIONERS AND NOTARIES PUBLIC