Information reaching Kossyderrickent has it that Fraud case opened at Sandton Police Station against CEO of Ternary Media Group, Sedote Nwachukwu as he stole R10 Million.
The investor of the flopped Burna Boy Joburg concert, Gregory Wings, is in hot soup after the First National Bank froze his accounts.
Wings, an American businessman in real estate, opened a case of fraud against his business partner Sedote Nwachukwu in September. Wings is said to have been scammed a sum of R9.1-million by his business partner who fled the country in September.
US-born Nwachukwu left the country immediately after Wings opened a case with the Santon police.
According to a source who cannot be revealed Nwachukwu and Wings have known each other for 15 years but only became close in the last five years. Wings was approached by Nwachukwu for funding the Burna Boy concert which was set to take place in September at the FNB Stadium.
Nwachukwu has denied the allegations, accusing Wings of stealing money from the concert. He says he was removed as CEO of Ternary Media Group after he refused to go along with Wings’ fraudulent plans.
Ticketpro, the company that sold tickets for the concert, says it is working on a plan to refund customers.
Burna Boy was scheduled to perform at FNB Stadium on Saturday, but the concert was postponed due to the fraud allegations. It is unclear when the concert will now take place.
Nwachukwu’s business partner, Gregory Wings, has opened a fraud case against him at the Sandton police station. Gauteng provincial police spokesperson Brig Brenda Moridili confirmed that a case is under investigation.